Otis Worldwide announced it has acquired a majority stake in WeMaintain, a fast-growing, tech-enabled provider of elevator and escalator maintenance services.
The investment reflects Otis’ strategy to enhance its service capabilities through technology, as customers increasingly demand greater reliability, transparency, and performance insights. By partnering with WeMaintain, Otis aims to accelerate innovation in service delivery while expanding its presence in digitally driven maintenance solutions.
Founded in 2017, WeMaintain leverages IoT and AI technologies to provide real-time monitoring, predictive insights, and operational efficiency for building systems, including elevators, escalators, automatic doors, and fire safety systems. The company operates across Europe and Asia with more than 350 employees.
Under the agreement, WeMaintain will continue to operate independently, maintaining its platform-agnostic approach and serving both existing and new customers. The partnership is designed to combine WeMaintain’s agile, technology-driven model with Otis’ global scale and industry expertise.
The transaction underscores Otis’ broader focus on evolving its service business through digital transformation, positioning the company to better meet the needs of modern, connected infrastructure environments.
KEY QUOTES:
“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. 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.”
Judy Marks, Chair, CEO And President, Otis Worldwide Corporation
“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.”
Benoit Dupont, CEO, WeMaintain
