Sungard set to sell another set of assets to 11:11 Systems

By Sarah Lizee

Olympia, Wash., Oct. 5 – Sungard AS entered into another asset purchase agreement with 11:11 Systems, according to a press release.

As previously reported, Sungard received approval from the U.S. Bankruptcy Court for the Southern District of Texas to sell its North American cloud and managed services (CMS) business to 11:11.

On Wednesday, the company said 11:11 has also agreed to purchase its recovery services business.

The companies hope to receive court approval of this sale by mid-October.

The transaction is expected to close later this fall alongside the CMS sale.

Sungard is a Wayne, Pa.-based provider of disaster recovery services, managed IT services, information availability consulting services and business continuity management software. The company filed bankruptcy on April 11 under Chapter 11 case number 22-90018.

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