11:11 Systems to Acquire Recovery Business of Sungard Availability Services

11:11 Systems, Inc. entered into an Asset Purchase Agreement to acquire Sungard Availability Services (Sungard AS) recovery services business.

The parties anticipate receiving bankruptcy court approval of the sale by mid-October, and the transaction is expected to close later this fall alongside 11:11 Systems’ simultaneous acquisition of Sungard AS’ Cloud and Managed Services (CMS) business.

Once completed, acquiring these 2 Sungard AS businesses will cement 11:11 Systems as one of the largest cyber resiliency and DR providers.

At the beginning of 2022, 11:11 Systems announced the acquisition of both Green Cloud Defense and iland, 2 firms in the cyber resiliency and DR space.

Once the 2 Sungard AS acquisitions are complete, the combined resources, experience, talent, solution offerings and customer and partner ecosystems will be brought together to establish an in-depth, comprehensive and global cyber resiliency and DR practice within 11:11.

Further, the addition of Sungard AS’ infrastructure recovery, backup and vaulting, managed recovery and consulting services will complement 11:11’s cloud, backup, DR and managed security solution suite. This combination of solutions, services and expertise form a complete cloud, recovery and resiliency offering available regardless of the customer use case or where data resides.

“We know that more than half of all companies today have experienced some sort of cyber-attack within the past 18 months. With these strategic acquisitions, 11:11 Systems is the best option on the market for helping customers of any size – no matter how simple or complex their needs are – prepare for and defend vs. cyber-attacks and other business interruptions,” said Brett Diamond, CEO, 11:11. “We are bringing together the market’s best players in cyber resiliency, harnessing their experience and strength and will add to it an innovation platform that will not only convey our combined customer ecosystem safely into the future, but also will optimize their environments for efficiency, cost and availability.”

Collectively, the companies integrating into the 11:11 Systems platform have been recognized for the following:
• iland named a Leader and Sungard AS named a Visionary in key analyst report for DR-as-a-Service
• Sungard AS cited as a leader and iland cited as a Strong Performer in key Disaster-Recovery-As-A-Service Providers report
• VMware Cloud Verified status achieved by Green Cloud, iland and Sungard AS
• Veeam Cloud & Service Provider Impact Partner of the Year, North America: iland named in 2021 for the 6th time
• Zerto Cloud Partner of the Year Award: iland named in 2020 for the 4th time
• Zerto Alliance Partner – Gold Partner status achieved by iland and Sungard AS

Further Sungard AS has been recognized for the following:
• BC Institute Hall of Fame
• Amazon Web Services Storage Competency Status, MSP Partner Status, and Advanced Consulting Partner in the AWS Partner Network – Sungard AS

As a part of this transaction, 11:11 will gain a team of skilled employees as well as 13 new cloud points of presence, which when combined with the 13 cloud points of presence included in 11:11’s acquisition of Sungard AS’ CMS business totals 26 new cloud points of presence for 11:11’s customers.

“Our goal is to enhance the cyber resiliency and DR team within 11:11 Systems by combining the best talent from the industry’s top data protection providers to expand options for our existing customers and blaze the path for business resiliency in the future,” said Justin Giardina, CTO, 11:11. “The well of experience, expertise and solution excellence is deep, and we intend to fully optimize this unique opportunity to the benefit of our customer and partner ecosystem.“

11:11 is backed by Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms.

Q Advisors, a global TMT investment banking boutique, acted as exclusive financial advisor to 11:11 in connection with this transaction. Perkins Coie acted as legal advisor to 11:11.

The terms of the transaction were not disclosed.