- The transaction is expected to close this fall
- Q Advisors was financial advisor to 11:11 while Perkins Coie acted as legal advisor
- Tiger Infrastructure Partners invests in new and growing infrastructure platforms
11:11 Systems, which is backed by Tiger Infrastructure Partners, has agreed to acquire Sungard Availability Services’ cloud managed services business. No financial terms were disclosed.
The transaction is expected to close this fall.
11:11 is a managed infrastructure solutions provider.
“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 of 11:11, in a statement. “Given these similarities, this transaction is a natural fit to enhance and strengthen our existing data center footprint, technology stack and services.”
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.
Tiger Infrastructure Partners is a middle-market private equity firm that invests in new and growing infrastructure platforms. Tiger Infrastructure targets investments in communications (digital), energy transition, transportation, and related sectors, primarily located in North America and Europe.