11:11 Systems, a managed infrastructure solutions provider, has entered into a definitive agreement to acquire Green Cloud Defense, an independent channel-only cloud infrastructure-as-a-service (IaaS) provider 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 deliver its managed network connectivity solutions to Green Cloud’s national channel partner network of more than 700 MSPs,VARs and T consultants, which serve 2,000-plus businesses.
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.