The cloud managed service business being sold is a cloud management practice that serves blue-chip, enterprise customers using hybrid and multi-cloud environments.
“Sungard AS’ impressive community of enterprise cloud customers is accustomed to a technology partner that is not only expert at managing its cloud infrastructure, but also provides proven expertise in security and recovery services, and these customers will continue to enjoy those advantages with 11:11,” said Brett Diamond, CEO at 11:11.
“Given these similarities, this transaction is a natural fit to enhance and strengthen our existing data centre footprint, technology stack and services.”
Under the terms of the deal, 11:11 will inherit a team of skilled employees specialising in cloud management, customer service, AWS and Azure professional services and cybersecurity. The company will also retain part of Sungard AS’ back-office and administrative teams. Ultimately, the deal will expand 11:11's network footprint by 13 additional cloud points of presence.
11:11 has a data centre footprint that spans North America, EMEA and APAC and services customers across cloud, connectivity and security.
The company previously acquired iland and Green Cloud Defense, bolstering its position in backup and disaster recovery and infrastructure as a service (IaaS) to managed service providers in North America. Last month, the company announced plans to acquire Static1, a provider of managed network and IT infrastructure services.
“Sungard AS’ expertise in providing cross-platform cloud deployments and management will contribute to our future development which includes taking compliance, scalability and availability to the next level as we help our customers manage, optimize and protect their mission critical cloud environments,” said Justin Giardina, CTO at 11:11.
Backed by private equity firm Tiger Infrastructure Partners, 11:11 is due to close the transaction later this fall.
