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Meal Vouchers & Employee Benefit Solutions Market to Grow by USD 21.32 Billion (2025-2029) with Tax Benefits Boosting the Market, Report on How AI is Driving Market Transformation – Technavio

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NEW YORK, Feb. 6, 2025 /PRNewswire/ — Report with the AI impact on market trends – The global meal vouchers and employee benefit solutions market size is estimated to grow by USD 21321.2 mn from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  4.3%  during the forecast period. Tax benefits of meal vouchers is driving market growth, with a trend towards shift toward digital meal vouchers and employee benefit solutions. However, data privacy and security issues  poses a challenge. Key market players include Alelo, Alera Group Inc., Axis Bank Ltd., Certify Inc., Circula GmbH, CIRFOOD s.c., Edenred SE, Electrum Fintech Solutions Pvt. Ltd., Empyrean Benefits Solutions Inc., Hrmony GmbH, ICICI Bank Ltd., Monizze NV SA, PayPal Holdings Inc., PIB Group Ltd., Set Corporate Services Inc., Sodexo SA, SPENDIT AG, SWILE, The Up Group Ltd., UniCredit SpA, Unum Group, VA Tech Ventures Pvt. Ltd., and Zaggle Prepaid Ocean Services Pvt. Ltd..

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Meal Vouchers And Employee Benefit Solutions Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 4.3%

Market growth 2025-2029

USD 21321.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.1

Regional analysis

Europe, South America, APAC, North America, and Middle East and Africa

Performing market contribution

Europe at 34%

Key countries

Brazil, France, US, China, India, Italy, Spain, Japan, South Korea, and Germany

Key companies profiled

Alelo, Alera Group Inc., Axis Bank Ltd., Certify Inc., Circula GmbH, CIRFOOD s.c., Edenred SE, Electrum Fintech Solutions Pvt. Ltd., Empyrean Benefits Solutions Inc., Hrmony GmbH, ICICI Bank Ltd., Monizze NV SA, PayPal Holdings Inc., PIB Group Ltd., Set Corporate Services Inc., Sodexo SA, SPENDIT AG, SWILE, The Up Group Ltd., UniCredit SpA, Unum Group, VA Tech Ventures Pvt. Ltd., and Zaggle Prepaid Ocean Services Pvt. Ltd.

Market Driver

Meal vouchers and employee benefit solutions continue to trend in the business world, with offerings expanding beyond traditional meal coupons to include travel vouchers, gift coupons, and financial wellness programs. These solutions promote workplace productivity, team engagement, and positive work culture by addressing the financial and health needs of employees. Trending areas include cooper cards for public transportation, production and consumption patterns, and flexible work arrangements. Geopolitical influences, natural disasters, climate change, and economic impact shape the market, with businesses, enterprises, government agencies, educational institutions, and multinational companies (MNCs) seeking solutions for employee satisfaction, retention, morale, and competitive advantages. Health and wellness, retirement plans, and corporate social responsibility are key concerns, with offerings including meal delivery services, partner restaurants, and digital meal vouchers. Advanced analytics, reporting capabilities, and integrated benefit platforms provide valuable insights, while financial wellness tools, such as budgeting tools and insurance options, support employee financial stability. Marketing activities, such as social media campaigns and content marketing, increase brand visibility and employee engagement. Digital technologies, including mobile applications and online platforms, streamline the process and cater to dietary preferences and work-life balance. Tax incentives further incentivize businesses to adopt these solutions. 

In the business landscape of 2024, the expanding internet connectivity in developing economies and the widespread use of mobile internet and smartphones are fueling the transition towards digital wallets and payment methods. Government initiatives, such as the European Commission’s policies and financial instruments, are promoting private and public investments in advanced internet infrastructure to enhance coverage. By 2025, the European Commission aims to ensure high-speed internet access for all citizens, with gigabit connectivity targeted by 2030. Furthermore, an increasing number of retailers and vendors are adopting digital payment options. Companies like Sodexo Group and Edenred are digitizing their processes, offering customized services to their clients and employees through automation. 

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Market Challenges

Meal vouchers and employee benefit solutions have become essential tools for businesses and organizations to enhance their employees’ financial and health well-being. Challenges such as Cooper Card, production and consumption patterns, geopolitical influence, and demographic changes impact the use of meal vouchers, travel vouchers, gift coupons, and other employee benefits. Employee satisfaction, productivity, and retention are key areas where meal vouchers and employee benefit solutions contribute. Human resource departments and professional services use these solutions to offer flexible work arrangements, financial benefits, and health and wellness programs. Meal vouchers can include partner restaurants, food delivery services, and digital meal vouchers, while integrated benefit platforms offer advanced analytics and reporting capabilities. Digital technologies, such as mobile applications and online platforms, make these solutions more accessible and convenient. Businesses, enterprises, government agencies, educational institutions, and multinational companies (MNCs) all benefit from these solutions, which can also provide competitive advantages, brand visibility, and marketing activities. Employee engagement, work-life balance, and corporate social responsibility are also important considerations. Dietary preferences, supplier power, and buyer power are other factors influencing the market. Financial wellness, retirement plans, and healthcare coverage are essential components of comprehensive employee benefit solutions. Social media campaigns, content marketing, and tax incentives are effective strategies for promoting these solutions. Overall, meal vouchers and employee benefit solutions are vital for creating a positive work culture and supporting a productive and engaged workforce.In today’s digital business landscape, meal voucher and employee benefit solutions have become essential tools for companies to attract and retain talent. These solutions offer numerous advantages, including convenience and flexibility for employees, and cost savings and streamlined administration for employers. However, the increasing use of mobile apps and cards to deliver these benefits also brings risks, particularly in the form of data security. Vendors must prioritize security measures to safeguard the personal information of employees and business partners. Edenred, for instance, offers various payment options, including Apple Pay, Google Pay, and Samsung Pay, ensuring secure and convenient transactions for beneficiaries. Despite these advancements, any vulnerability in the servers or mobile apps could lead to privacy breaches and reputational damage for market players.

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Segment Overview 

This meal vouchers and employee benefit solutions market report extensively covers market segmentation by  

TypeMeal VouchersEmployee BenefitsProductNon-cash VoucherCash VoucherGeographyEuropeSouth AmericaAPACNorth AmericaMiddle East And AfricaEnterprise SizeLargeMediumIndustryManufacturingHealthcareIT And TelecomBFSIRetailTransportation And LogisticsOthers

1.1 Meal vouchers-  In the global meal vouchers and employee benefit solutions market, meal vouchers continue to dominate with a substantial market share in 2024. Tax exemptions under various tax regimes, such as India’s exemption for meal vouchers worth USD0.585 or less per meal, make these vouchers an essential component of employee compensation structures. Meal vouchers are governed by the Reserve Bank of India (RBI) in India and are distributed by vendors like Sodexo and Edenred, who charge a commission from employers. Digital meal vouchers with self-loading, transferring, and withdrawing capabilities are gaining popularity. Vendors are also forming strategic partnerships with food delivery services, like Sodexo’s with Uber Eats, enhancing convenience for remote workers and increasing the demand for meal vouchers. These developments are expected to positively impact the market growth during the forecast period.

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Research Analysis

Meal vouchers and employee benefit solutions have become essential components of a comprehensive human resources strategy for businesses, enterprises, government agencies, educational institutions, and other organizations. These programs promote financial well-being and health and wellness among employees by offering meal coupons, travel vouchers, and gift coupons as incentives. By enhancing workplace productivity, team engagement, and employee satisfaction, meal vouchers and employee benefit solutions contribute to positive work culture, higher retention rates, and competitive advantages. Workforce demographics, health and wellness, retirement plans, flexible work arrangements, and financial benefits are key considerations in designing effective meal voucher and employee benefit programs. Supportive government policies and tax incentives further encourage their adoption. Corporate social responsibility is also a driving factor, as organizations seek to attract and retain top talent while promoting a healthy and engaged workforce. Ultimately, meal vouchers and employee benefit solutions foster a supportive and inclusive work environment that boosts morale and contributes to a successful business.

Market Research Overview

Meal vouchers and employee benefit solutions have become essential tools for businesses and organizations to enhance their employees’ financial and health well-being. These solutions include meal coupons, travel vouchers, and gift coupons, which can boost workplace productivity, team engagement, and employee satisfaction. The market for these benefits is influenced by various factors such as production and consumption patterns, human resource management, professional services, geopolitical influences, natural disasters, climate change, economic impact, trade policies, social concerns, demographic changes, supplier power, and buyer power. Workforce demographics, health and wellness, retirement plans, flexible work arrangements, financial benefits, and corporate social responsibility are key areas of focus for businesses and enterprises. Meal vouchers and employee benefit solutions can also offer competitive advantages through supportive government policies, marketing activities, brand visibility, employee engagement, work-life balance, and multinational companies (MNCs) adopting digital technologies. Advanced analytics and reporting capabilities are essential features of integrated benefit platforms, enabling businesses to understand employee preferences, consumption patterns, and the impact of these benefits on production and morale. Financial wellness solutions, including budgeting tools and healthcare coverage, can help employees manage their finances and maintain good health. Paid time off, insurance options, and social media campaigns are other popular benefits that can enhance employee engagement and retention rates.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeMeal VouchersEmployee BenefitsProductNon-cash VoucherCash VoucherGeographyEuropeSouth AmericaAPACNorth AmericaMiddle East And AfricaEnterprise SizeLargeMediumIndustryManufacturingHealthcareIT And TelecomBFSIRetailTransportation And LogisticsOthers

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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American Binary Sets New Standard in Post-Quantum Cryptographic VPNs with Symbolic Proof and Attestation

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WASHINGTON, July 21, 2026 /PRNewswire/ — American Binary, a leader in deep-tech cybersecurity, today announced an independent attestation regarding the validity of all 120 security properties of MaxKyber, their network protocol at the heart of their Ambit Client enterprise VPN, now third-party verified to comply with all Commercial National Security Algorithm Suite 2.0 (CNSA 2.0) requirements. This landmark verification is the result of an exhaustive private peer-review of their symbolic proof (Tamarin + ProVerif) and engineering documentation conducted by industry luminaries Dr. Joe Kiniry, PhD and Dr. Tom Shrimpton, PhD, both with long careers in academia and industry, including time at Galois as Principal Scientists.

“No known VPN — post-quantum or classical, deployed or research — has been subjected to specification and formal verification of comparable depth.” – Dr. Joe Kiniry, PhD and Dr. Tom Shrimpton, PhD

In a landscape defined by emerging quantum threats and unproven solutions, this formal third-party verification differentiates MaxKyber from traditional or hybrid solutions by providing certainty in engineering and compliance with National Security requirements. MaxKyber provides the world with long-term full post-quantum security unlike shorter-term temporary solutions such as hybrids (which mix classical and post-quantum encryption). This breakthrough marks a transition from speculative security to a foundation of verified, provable resilience, establishing a new global benchmark for secure communications.

“While organizations today are increasingly recognizing the significance of PQC, American Binary has been preparing for a post-quantum world for seven years. The result is a resilient foundation for secure operations, today and in the post‑quantum future” – Oracle

Additionally, American Binary signed ACM Turing Award winner Whitfield Diffie, cryptographic pioneer and co-inventor of the Diffie-Hellman key exchange, as a key advisor. Whitfield joins the ranks of existing cryptographic advisors Bruce Schneier and Brian LaMacchia.

“Buy American Binary and you’ll be safe”

– Whitfield Diffie at Quantum.Tech World 2026

Key security pillars of the MaxKyber attestation include:

Protection against “Harvest Now, Decrypt Later” (HNDL): By utilizing purely CNSA 2.0 algorithms, including ML-KEM-1024 without any classical key exchange variants, MaxKyber secures today’s data against decryption by quantum adversaries.Comprehensive Symbolic Verification: The attestation covers 120 security properties across 11 critical categories, including secrecy, authentication, forward secrecy, identity hiding, and resistance to Replay, Denial of Service, Resource Exhaustion, and Key Compromise Impersonation.Architectural Stability: Beyond its post-quantum cryptographic core, MaxKyber’s protocol architecture is rooted in well-established, operationally proven design patterns, retaining their performance and simplicity.

This foundational security architecture provides the necessary reliability to enable significant performance breakthroughs in the field and the following four key impacts.

Impact I: Unambiguous Security and Mitigation of “Harvest Now, Decrypt Later”

MaxKyber achieves the end-state of post-quantum cryptographic purity by utilizing a pure CNSA 2.0 post-quantum key exchange, without using any classical cryptography, hybrid cryptography, or legacy key exchange variants. Instead, American Binary’s more modern key exchange utilizes ML-KEM-1024 operations to replace the Diffie-Hellman Key Exchange. This approach ensures that modern enterprises are not tethered to the vulnerabilities of legacy components or negative market reactions to hybrid solutions being partially broken. If the classical encryption in hybrid solutions is verifiably broken, markets likely will not wait for forensics to determine whether the rest of the solution remains intact; reputation damage and capital flight will occur immediately.

MaxKyber exclusively employs CNSA 2.0 approved algorithms, specifically ML-KEM-1024 (FIPS 203), AES-256-GCM, and SHA-512/256. This construction provides the highest level of security available today without any loss of existing security properties.

Impact II: Optimal Performance from Mobile and Lossy Environments to High-Performance Scenarios

Historically, high-security protocols have suffered from significant system latency, creating a bottleneck for edge computing and mobile workforces. MaxKyber eliminates these traditional performance trade-offs, enabling high-performance security at the network’s most vulnerable points. One partner benchmarked Ambit Client, powered by MaxKyber, to have 70% faster download speeds than a comparable classically encrypted enterprise VPN.

The MaxKyber protocol optimizes efficiency through an “Authenticated Key Exchange” (AKE) which achieves mutual authentication in a single round trip, dramatically reducing the data burden on the network.

Quantifiably, the AKE saves approximately 4,600 bytes per handshake compared to the next best option. This ultra-low overhead ensures that robust post-quantum security functions reliably on mobile devices and in lossy environments where traditional, bulkier PQC handshakes consistently fail. Reliability in the field is a prerequisite for everything from remote work to warfighting environments, and MaxKyber’s AKE directly facilitates such operational readiness.

Additionally, MaxKyber is well suited for high-performance scenarios such as AI workloads, work with 3D models, and more thanks to Vector Packet Processing and Data Plane Development Kit further reducing overheads to the technical minimums and enabling line-rate speeds for server-to-server use cases.

Impact III: Compliance Savings

As the cost of compliance and diligence cycles for critical infrastructure continues to escalate, proofs can be a shortcut for approval. For CISO and Legal departments, formal verification provides a transparent, “glass-box” view of security that goes beyond traditional testing.

For integration partners, this symbolic proof significantly reduces diligence cycles. By providing an exhaustively checked security profile, American Binary allows partners to shorten the lengthy, costly investigative phases usually required for new cryptographic implementations. Verified compliance is transformed from a hurdle into a catalyst for product development.

Impact IV: R&D Acceleration

For engineering teams looking to integrate this technology and/or customize it, American Binary’s documentation serves as a powerful force multiplier. By providing pre-verified, exhaustive, and high-quality documentation, American Binary provides an extraordinary shortcut to rapid integration.

The scale of the documentation and formal models provided to partners is unprecedented in the VPN industry. This rigorous approach allows integration partners to save months, if not years, of R&D effort.

MaxKyber provides more than just a secure tunnel; it delivers a fully documented, mathematically proven blueprint that accelerates the transition to a quantum-safe future. With MaxKyber, American Binary has rewritten the industry standard for post-quantum network security.

About American Binary

American Binary is a leader in deep-tech cybersecurity, specializing in the development of CNSA 2.0 post-quantum cryptographic solutions. Through advanced rigor and high-performance engineering, American Binary provides the provable foundations for secure, resilient communication in the quantum era.

Learn more at www.ambit.inc

CONTACT: sales@ambit.inc 

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MetaOptics to Deploy its Direct Laser Writer at the University of Arizona’s Center of Semiconductor Manufacturing to Advance its U.S. Expansion

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SINGAPORE, July 21, 2026 /PRNewswire/ — MetaOptics Ltd (Catalist: 9MT) (“MetaOptics” or the “Company,” and together with its subsidiaries, the “Group”), announced that it has entered into an agreement to deploy its key metalens Direct Laser Writer (“DLW”) system at the University of Arizona’s Center of Semiconductor Manufacturing (the “University”). The agreement marks a critical step in advancing its U.S. expansion strategy and its collaborative research with world-class semiconductor stakeholders in Arizona. Installation of the DLW is expected to commence in 2027.

The DLW is designed for a 4-inch wafer to enable quick prototyping and fabrication of metalens samples within weeks. It also supports small-volume production for pilot builds and customer demand evaluation, enabling partners to iterate faster and move from concept to product more efficiently. The deployment of the Company’s DLW will allow prospective customers in the U.S. to physically witness the system in action for their metalens prototyping needs. It will also support collaborative research and evaluation by the University’s researchers under the guidance of Dr. Krishna Muralidharan of the University of Arizona’s Department of Materials Science and Engineering. MetaOptics expects the deployment to generate user feedback and user demonstration opportunities, providing further technical validation of its metalens equipment and products, and serve as a launchpad to scale commercial production and collaboration in the U.S. market.

The deployment of its DLW serves as a key milestone for MetaOptics’ U.S. expansion strategy, prospective U.S. customer engagement, and commercialization roadmap. It also positions the Group to support emerging U.S. initiatives in silicon photonics, co-packaged optics, and integrated photonics, where its metalens technology is directly applicable. The DLW will anchor a “mini foundry” at the University for small-volume, quick turnaround prototyping. Beyond research, the installation serves a commercial purpose: a U.S. demonstration site where potential distributors, universities, and research institutions can physically witness the DLW in operation. It will also produce metalens samples for prospective customers’ evaluation. With Arizona’s fast-growing semiconductor ecosystem home to world-class manufacturers and suppliers, the Company aims to leverage its presence at the University and the wider ecosystem to deepen engagement with prospective industry partners and end customers.

MetaOptics Executive Chairman Thng Chong Kim commented: “By placing our Direct Laser Writer within a world-class semiconductor research environment in Arizona, we will be able to strengthen technical validation and gather valuable user feedback. It also supports our ongoing engagements with potential industry partners and end-customers while showcasing our metalens manufacturing equipment to prospective distributors and institutions across the United States. We believe this deployment reinforces our broader U.S. expansion efforts and deepens our engagement in Arizona’s world-class semiconductor ecosystem.”

About MetaOptics Ltd

MetaOptics Ltd (Catalist: 9MT) is a semiconductor optics company pioneering glass-based metalens solutions enhanced by AI-driven image processing. Using advanced optical design and a scalable 12-inch DUV lithography process, it powers next-generation applications in CPO, mobile, AR VR, automotive, and other emerging markets. Find out more at www.metaoptics.sg.

Forward-Looking Statement

This press release contains forward-looking statements which can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to,” “potential,” “continue” or other similar expressions. Any statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s growth strategies, its future business development, results of operations and financial condition, its research and development efforts, its ability to attract and retain customers, and its ability to establish and maintain relationships with suppliers and business partners; and assumptions underlying or related to any of the foregoing. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Singapore (HQ)
Metaoptics Technologies Pte Ltd. 81 Ayer Rajah Crescent, #01-45 Singapore 139967

United States
Metaoptics Inc. (USA) 1 Ferry Building, Suite 201 San Francisco, CA 9411

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SOURCE METAOPTICS LTD

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11:11 Systems Announces Strategic Partnership with Cato Networks to Deliver SASE Solution for Distributed Enterprises

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New Managed Secure Access Service Edge (SASE) solution combines SD-WAN, cloud-native networking and security capabilities with 11:11’s connectivity, cyber resilience and cloud expertise

SYDNEY, July 22, 2026 /PRNewswire/ — 11:11 Systems, a leading managed infrastructure solutions provider, today announced the global availability of its 11:11 Managed Secure Access Service Edge (SASE) solution and a new strategic partnership with Cato Networks.

11:11 Managed SASE is a fully managed secure connectivity solution leveraging Cato Networks AI-native network security platform. This solution brings together intelligent SD-WAN, cloud-delivered security and global connectivity into a single offering. It enables organisations to simplify and secure access across branch offices, data centres, users and cloud environments, reducing complexity without sacrificing performance or control.

Built on the Cato Networks cloud-native SASE platform, 11:11 Managed SASE combines zero trust network access (ZTNA), firewall as a service (FWaaS), secure web gateway (SWG), cloud access security broker (CASB), advanced threat protection and centralised visibility into a unified managed experience. 11:11 also delivers 24x7x365 monitoring and support, incident management integration and operational accountability to help customers limit vendor sprawl, increase agility and free internal teams to focus on higher-value priorities.

The offering is backed by 11:11’s broader networking, cloud and cyber resilience capabilities. Through its global backbone, carrier-agnostic connectivity options and integrated portfolio spanning cloud, backup, disaster recovery and security services, 11:11 gives customers a practical path to modernise network and security architecture while strengthening resilience across the business.

“Enterprises are under pressure to support users, applications and locations that are more distributed than ever, while limiting complexity and improving security,” said Justin Giardina, CTO, 11:11 Systems. “Our Managed SASE solution provides customers with a unified approach to modernising networking and security, along with the visibility, support and flexibility they need to thrive in a rapidly changing environment.”

According to Karl Soderlund, global channel chief, Cato Networks, “As enterprises move beyond fragmented legacy networking and security stacks, they need a simpler way to gain visibility, context and control across hybrid work environments and reduce the operational burden on IT. Through our partnership, we can address these challenges head on and deliver end-to-end visibility and protection in a single service built for the reality of modern work.”

The joint offering is well suited for distributed enterprises, multi-site organisations, hybrid workforce initiatives, SD-WAN refreshes, security modernisation efforts and businesses with limited IT resources. 11:11 meets customers where they are by supporting existing environments, simplifying multi-vendor operations and serving as a single provider accountable for network, security, cloud and data integration.

This partnership expands 11:11’s Network as a Service portfolio and follows Forrester’s inclusion of 11:11 Systems in its report, “The Secure Access Service Edge Services Landscape, Q1 2026.”

About 11:11 Systems

11:11 Systems is a managed infrastructure solutions provider that empowers customers to modernise, protect and manage mission-critical applications and data, leveraging 11:11’s resilient cloud platform. Learn more at www.1111Systems.com and follow 11:11 on LinkedIn.

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