FAIRFIELD, N.J.--(BUSINESS WIRE)--11:11 Systems, a managed infrastructure solutions provider, announced today that it has entered into a definitive agreement to acquire Green Cloud Defense (“Green Cloud”), one of the largest independent channel-only cloud Infrastructure-as-a-Service (IaaS) providers in the United States. The acquisition is expected to be final by the end of the year.
McKinsey estimates that Cloud could deliver more than $1 trillion in EBITDA value across the Fortune 500 by 2030.* Cloud security is critical to unlocking the full potential of this transformation, with companies projected to lose roughly $650 billion as a result of system downtime and cybersecurity breaches by 2030.*
Green Cloud specializes in next-generation managed cloud security solutions. In March 2021, it acquired Cascade Defense, a full-service managed security service provider (MSSP), expanding its security portfolio with managed Security Information and Event Management (SIEM) and a Security Operating Center-as-a-service (SOCaaS). Green Cloud is a Fortinet MSSP Expert partner and a full-service Security Operations Center (SOC), offering managed Endpoint Detection and Response (EDR) solutions. It is also a VMware, Veeam, Zerto, Cisco, and HPE partner.
With Green Cloud, 11:11 Systems adds best-in-class cloud and security capabilities to its “Everything Connected” platform and portfolio – from infrastructure to disaster recovery to managed threat detection. In turn, 11:11 will now deliver its Managed Network Connectivity solutions to Green Cloud’s national channel partner network of 700+ Managed Service Providers, Value-Added Resellers, and IT consultants which serve 2,000+ businesses.
“We are at an inflection point in digital transformation,” says Brett Diamond, CEO, 11:11 Systems. “Customers can achieve the greatest gains by leveraging the most powerful platform to deliver managed infrastructure and automation. Green Cloud provides the cloud and security solutions that will propel this advantage for our customers and partners.”
“11:11 Systems has a clear vision for a new model that empowers customers with a fully automated, integrated, and managed network infrastructure platform,” says Keith Coker, co-founder and CEO of Green Cloud. “We know this is the solution we seek to support our partners in delivering best-in-class services to their clients. We look forward to this tremendous opportunity to continue to grow our value as part of 11:11 Systems.”
Q Advisors, a global TMT investment bank, acted as exclusive financial advisor to Green Cloud in the transaction and debt advisor to 11:11 Systems in connection with the related financing.
ABOUT 11:11 SYSTEMS
11:11 Systems is creating a new model delivering the power of “Everything Connected” in connectivity, cloud, and security solutions for customers and partners. Fully integrated, fully automated. All services, activities, data, and performance, powered on a single platform.
11:11 Systems is backed by Tiger Infrastructure Partners, a middle-market private equity firm that invests in growing infrastructure platforms targeting communications, energy transition, transportation, and related sectors, primarily located in North America and Europe.
ABOUT GREEN CLOUD DEFENSE
Green Cloud Defense delivers customized cloud and security solutions through Managed Service Providers (MSPs) and Value-Added Resellers (VARs). Founded in 2011, Green Cloud Defense is one of the largest independent channel-only cloud IaaS (Infrastructure-as-a-Service) providers in the country with data centers in Atlanta, GA, Greenville, SC, Houston, TX, Minneapolis, MN, Nashville, TN and Phoenix, AZ. Green Cloud Defense also offers backup and disaster recovery solutions, DaaS (Desktop-as-a-Service) and fully managed security services with a multi-layered approach. In addition to several national awards and accolades, Green Cloud Defense was included in Inc. 500, the most prestigious ranking of the fastest-growing private companies, consecutively for five years. Learn more at www.greenclouddefense.com.