11:11 Systems says it has entered into an asset purchase agreement to acquire the recovery services business from Sungard AS , claiming the parties anticipate receiving bankruptcy court approval of the sale by mid-October.
The transaction is expected to close later this Autumn alongside the managed infrastructure solution provider’s simultaneous acquisition of Sungard AS cloud and managed services business.
Once these deals are complete, it says 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 disaster recovery practice”.
The deal will also see 11:11 gain a “large” team of employees as well as 13 new cloud points of presence.
11:11 Systems CEO Brett Diamond claimed the deal makes his outfit the best option on the market for helping customers fight cyber-attacks and other business interruptions.
“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 optimise their environments for efficiency, cost and availability.”
