Eltizam completes proptech firm acquisition
Acquisition of technology company Orion Systems is expected to add USD 120 million to the Group’s future revenues
Eltizam Asset Management Group says the acquisition of property technology company Orion Systems should boost its future revenues by as much as $120 million.
With the deal completed, the leading physical asset management company is forming its own proptech subsidiary OrionTEK, which it plans to “design and deploy solutions that disrupt how physical assets are operated and managed”.
Described as employing a young and motivated team of technology experts focused on the built environment, OrionTEK has deliver customised solutions across four continents for some heavyweight clients, including major international airports, global e-commerce giants and leading real estate developers.
OrionTEK will now work with Eltizam’s in-house experts to develop new solutions for security management, energy management and predictive maintenance.
The overall goal is to offer solutions that significantly improve how buildings are managed, said Eltizam.
In a statement, it added that OrionTEK is not only the centrepiece of its revenue diversification strategy but also enables it to accelerate the digital transformation of the Group’s businesses, “which will be at the center of Eltizam’s strategy to leverage the next-generation Internet of Things (IoT) technology to transform the efficiency of security, maintenance and energy management processes in the built environment.”
Chris Roberts, CEO, Eltizam, said: “Advanced technologies continue to disrupt industries worldwide, paving the way for fresh opportunities for business success, and the built environment is no exception. As a leading provider of asset management services, we want to not only be part of this transition to the digital world but also to be at the forefront of this movement.”
Eltizam on getting ‘wonky’
Elizam’s digital transformation efforts are pivotal to the technology pillar of its ‘Get Wonky’ culture, an organizational and business enhancement framework.
‘Get Wonky’ was launched to enhance customer experience, inspire excellence within the Group’s workforce, highlight its treasured values and sustain revenue growth and strong performance.
“We are pleased to have OrionTEK and its team of young tech professionals on board as part of Eltizam. With OrionTEK, which also operates in Australasia, UK and Europe, we can fast-track our vision of providing highly efficient services backed by innovative technologies and creating maximum value for our clients at minimum costs,” Roberts added.
Fred Durnford, General Manager, OrionTEK, said: “We are very proud that Elizam has recognized our achievements as a business organization. We are excited about the beginning of this new chapter in OrionTEK’s history. The partnership will allow us to fast-track our development of world-class smart building technology and accelerate our growth throughout the region.”
