11:11 Systems has completed the sale of Sungard Availability Services’ (SAS – no relation) Recovery Services business and its Cloud and Managed Services (CMS) business.
Once the integration is complete, the acquired brands will operate as 11:11 Systems.
11:11 CEO, Brett Diamond said: “We had the opportunity to bring together expertise, solutions and services from leading companies, including these two Sungard AS businesses, to form the foundation of 11:11 Systems.”
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”.
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