Another firm swoops on Sungard AS assets following UK arm's collapse

11:11 Systems says it has entered into an asset purchase agreement to acquire the recovery services business

Another business is showing interest in acquiring assets from Sungard Availability Services (SAS) after its UK arm reportedly went into administration earlier this year.

11:11 Systems says it has entered into an asset purchase agreement to acquire the recovery services business from SAS, 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 SAS's 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.

"We know that more than half of all companies today have experienced some sort of cyber-attack within the past 18 months," said Brett Diamond, CEO of 11:11 Systems.

"With these strategic acquisitions, 11:11 Systems is the best option on the market for helping customers of any size - no matter how simple or complex their needs are - prepare for and defend against 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."

This comes after Redcentric acquired the operations and assets relating to three Sungard datacentres [DCs] in July.

The deal also includes the provision of other colocation and network services from Sungard Availability Services, Redcentric said.

An initial consideration of £10.12m has been paid in cash, with further consideration being payable in cash pursuant to performance criteria which expire 12 months following completion.