11:11 Systems (11:11), a managed infrastructure solutions provider, has acquired Static1, a specialist in managed network and IT infrastructure development and services.
Driving increased productivity, efficiency and security for its customers, Static1 designs, builds, runs and optimises IT infrastructure.
The enterprise network infrastructure market is valued at $56 billion 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.
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 have not been disclosed.
