Elegine’s technology and software partner secures funding from Global Networking Giant and Private Equity Firm to Make ‘Intelligent Urbanization’ a Reality in Emerging Economies.
DUBAI, UAE / BANGALORE, INDIA / SINGAPORE/ MELBOURNE, AUSTRALIA, February 10, 2009 – Majitek, the leading provider of software platforms for next generation service providers, has confirmed today that it has completed a US$7.5 million round of equity funding welcoming global networking giant, Cisco Systems, to its share register.
The Majitek Software Platform enables any device or system connected to a network to be accessed on a pay per use basis. Combined with its highly-scalable Cloud Computing architecture, it is positioned to enable all devices and systems within an entire city to be offered as ‘utility services’.
The global investment agreement will allow the company and technology partners to further enhance its product and solution offerings to meet the needs of the Connected Real Estate market. The funds will be used to expand Majitek’s international operations, to work more closely with its real estate industry customers and partners in the Middle East and other emerging markets across the world.
Majitek will work with Cisco’s Globalization Centre East based in Bangalore, India to develop a software platform that will enable the creation and delivery of innovative services for the real estate industry and others including transportation, smart grid and safety and security. This platform will serve as an enabler to ‘Intelligent Urbanization,’ realizing the ‘city-as-a-service’ vision.
Newly appointed Majitek CEO, Bernie Devine, said “We are delighted to have one of the world’s leading technology companies joining us as a shareholder and key partner. We are confident that Cisco’s investment and increased involvement with Majitek will result in a solution that empowers real estate companies to engage customers in new and innovative ways. Majitek and Cisco share a common view on what can be achieved in Connected Real Estate and we look forward to realizing that vision together’.
About Elegine
Elegine ‘powered by Majitek,’ specializes in delivering intelligent networked motorization solutions for the window fashion industry. The Elegine motors allow simple networking capabilities for connection to next-generation automated built environments.
Elegine is headquartered in Singapore and has offices in Melbourne, Australia and Dubai.
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