11:11 Systems Expands Managed Security Services Portfolio
11:11 Systems, a managed infrastructure provider backed by private equity firm Tiger Infrastructure Partners, has expanded it MSSP services to “prevent, detect and respond to malicious activities,” the company said.
The managed security services include managed firewall; continuous risk scanning, SIEM (security information and event management) and EDR (endpoint detection and response).
On the partner front, 11:11 Systems supports agents and large master agencies.
Managed Security Services Leverage Acquisitions
The expanded security services surface after 11:11 Systems acquired two cyber resilience- and MSSP-centric companies in 2021. The M&A deals involved:
- iLand, a cloud service provider (CSP) known for IaaS, disaster recovery (DRaaS), and backup as a service (BaaS).
- Green Cloud Defense, a Top 250 MSSP, Infrastructure-as-a-Service (IaaS) and Fortinet partner that supports roughly 700 MSPs.
11:11 Systems signaled its commitment to M&A when the company hired Mark Shalhoub as CFO in November 2021. He previously held key positions at such hedge funds as Citadel Global Equities and SAC Capital Advisors. Earlier, Shalhoub was VP of investment banking at Citi Global Markets. While there, he specialized in M&A advisory and capital raising services.
About Private Equity Firm Tiger Infrastructure Partners
11:11 Systems’ owner, Tiger Infrastructure, targets investments in communications, energy transition, transportation, and related sectors, primarily located in North America and Europe, according to the private equity firm.
Tiger Infrastructure invested in 11:11 Systems in September 2021. Financial terms of the investment were not disclosed.
The private equity firm has a track record with 11:11 Systems CEO Brett Diamond. Indeed, Tiger Infrastructure previously partnered with Diamond through its investment in Hudson Fiber Network (HFN). ExteNet Systems acquired HFN in 2018.