Otis Worldwide Corporation announced on April 13, 2026 that it has closed a transaction to acquire a majority stake in WeMaintain, a technology‑enabled service company that provides an agnostic IoT and AI‑based platform for real‑time visibility and predictive maintenance of elevators, escalators, automatic doors and fire safety systems.
The deal expands Otis’s service platform by adding WeMaintain’s digital capabilities and customer base in Asia and Europe, where the company employs more than 350 people. Otis will keep WeMaintain as a separate entity, allowing the company to leverage its technology while preserving its own global service network of 45,000 field professionals.
Management highlighted the strategic fit: "Service is the foundation of our business, and innovation in how service is delivered is increasingly important as customers seek greater reliability and better visibility into performance," said Otis CEO Judy Marks. "WeMaintain has built a strong technology platform and agile operating model that reflects how quality service is delivered in a fast‑paced, digital and customer‑centric environment. We are confident in their growth potential and believe this investment supports their continued success while creating long‑term value for both organizations." WeMaintain CEO Benoit Dupont added, "Otis' investment allows us to stay focused on what we do best – continuing to build and advance our technology and scale our business as an independent company. With the stability and support of the global industry leader, we are well positioned to strengthen our offering while maintaining the close customer relationships and high standards that have always defined our approach."
The acquisition is part of Otis’s broader modernization supercycle, which seeks to shift the company from cyclical equipment sales toward high‑margin recurring service revenue. By integrating WeMaintain’s real‑time monitoring and predictive maintenance tools, Otis aims to enhance reliability, reduce downtime, and create new revenue streams across its global service network.
Financial terms of the transaction were not disclosed in the announcement.
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