11:11 Systems announced the acquisition of Static1, strengthening its cloud, connectivity and security portfolio.
Driving increased productivity, efficiency and security for its customers, Static1 designs, builds, runs and optimizes IT infrastructure.
The enterprise network infrastructure market is valued at $56B as of 2021, and is expected to grow significantly over the next five years. The shifting dynamics of remote work and the increased need for bandwidth and technology to enable the migration to wireless are major factors driving the growth of the connectivity market. IT leaders must ensure applications and data are connected, anywhere, anytime, but most businesses do not have the internal resources to manage those new complex infrastructure requirements.
“Feedback from customers has shown that there is a dearth of offerings that combine cloud, connectivity and security in one platform,” said Brett Diamond, CEO, 11:11 Systems. “We are focused on providing the platform for these three core pillars while ensuring that our customers’ apps and data are always running, accessible and protected. Static1 is a natural addition to our portfolio particularly because of the team’s significant depth in connectivity. With this acquisition, we will strengthen our existing managed services and add entrenched industry expertise and relationships to our portfolio.”
Static1 is a leader in complex industries such as media, entertainment, pharmaceutical, retail, financial services and not-for-profits. Their services span the gamut from connectivity to security management to monitoring, network, infrastructure and SD-Wan technology. Through this acquisition, Static1’s team and technology will complement 11:11’s recent acquisitions of Unitas, Cleareon, iland and Green Cloud Defense– each of which hold market leadership positions within the cloud, connectivity and security spaces.
“11:11 and Static1 share a vision for addressing the most pressing issues that businesses face,” adds Anthony Lobretto, president and CTO, Static1. “This exciting step forward benefits our customers with continued best-in-class support, greater uptime, reliability and security, all while reaping the benefits of accessing the full spectrum of purpose-driven solutions 11:11 has to offer.”
11:11 is backed by Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms.
Q Advisors, a global TMT investment banking boutique, acted as exclusive financial advisor to 11:11 Systems in connection with this transaction. Perkins Coie acted as legal advisor to 11:11 Systems. The terms of the transaction were not disclosed.