Eltizam Asset Management Group formally announced its acquisition of technology company Orion Systems to form OrionTEK in a move that is expected to add USD 120 million to the Group’s future revenues.
OrionTEK, which was established to design and deploy solutions that disrupt how physical assets are operated and managed, is a part of Eltizam’s revenue diversification strategy with Proptech as a key future focus area and revenue driver. The move also accelerates 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.
Building on its expertise in rolling out security and information technology (IT) systems integration, airport, cybersecurity and smart asset solutions, OrionTEK will 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.
Employing a young and motivated team of technology experts focused on the built environment, OrionTEK is at the forefront of technology innovation and the latest industry trends. This has enabled them to deliver customized solutions across four continents for some heavyweight clients, including major international airports, global e-commerce giants and leading real estate developers.
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. We want to not only be part of this transition to the digital world but also to be at the forefront of this movement.”
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.”
The latest acquisition is expected to solidify Eltizam’s position in the Middle East, as well as bolster its footprint and influence across the region in line with the company’s expansion strategy.
Keeping pace with the rapid digital developments and their varied applications, OrionTEK will help lay the groundwork for Eltizam to be future-proof. It will enable the Group to effectively adapt to the changes brought about by relevant technological advances and projects that are redefining the industry and the whole of the global built environment community.
The acquisition deal has been facilitated by Atomium Group DWC on behalf of Orion Systems.