11:11 Purchase of Sungard AS Recovery Services Business
Sungard AS filed for Chapter 11 bankruptcy in April.
11:11 Systems buys another one Sungard Availability Services (Sungard AS) — this time it’s about recovery services. It also buys the company’s cloud and managed services (CMS) businesses.
Sungard AS filed for Chapter 11 bankruptcy in April. This is the second time in three years. The company cited a series of factors that led to the bankruptcy. In 2019, Sungard AS said it needed to reduce its debt by nearly $800 million.
11:11 and Sungard AS expect to receive bankruptcy court approval for the sale of the recovery services business by mid-October. The transaction is expected to close later this fall alongside the CMS business.
11:11 said that once completed, the acquisition of these two businesses from Sungard AS will cement it as “one of the largest and most experienced cyber resilience and disaster recovery providers”. In early 2022, 11:11 Systems announced the acquisition of Green Cloud Defense and iland, two market leaders in cyber resilience and disaster recovery.
New training 11:11 coming soon
Once the two acquisitions of Sungard AS are complete, the combined resources, experience, talent, solution offerings and ecosystems of customers and partners will be brought together. They will establish a global cyber resilience and disaster recovery practice in 11:11.
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Brett Diamond is 11:11‘s CEO.
“We know that more than half of all businesses today have experienced some kind of cyberattack in the last 18 months,” he said. “Through these strategic acquisitions, 11:11 Systems is the best option in the market for helping customers of any size – no matter how simple or complex their needs – to prepare for and defend against cyberattacks and other business interruptions.”
More cloud points of presence
As part of this transaction, 11:11 gets a large team of employees and 13 new cloud points of presence. With the two businesses of Sungard AS, 11:11 will have 26 new cloud points of presence for its customers.
Justin Giardina is the technical director of 11:11.
“Our goal is to enhance the Cyber Resilience and Disaster Recovery team within 11:11 Systems by combining the best and best talent in the industry Data protection providers to expand options for our existing customers and pave the way for business resilience in the future,” he said. “The pool of experience, expertise and solutions excellence is deep. And we intend to fully leverage this unique opportunity for the benefit of our ecosystem of customers and partners.