Eltizam’s acquires Orion Systems to form OrionTEK
DUBAI, February 24, 2021
Eltizam Asset Management Group, one of the leading physical asset management companies in the UAE, formally announced its acquisition of technology company Orion Systems to form OrionTEK in a move that is expected to add $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.