Farmington-based Otis Worldwide Corp. announced it has acquired a majority stake in WeMaintain, a company that maintains elevators and escalators using connected technology to monitor performance and prevent breakdowns.
Financial terms of the deal were not disclosed.
Otis said the investment is intended to expand its service operations and use of digital tools. WeMaintain develops software and connected-device systems used to monitor equipment performance.
Servicing elevators and escalators is a core part of Otis’ business, accounting for more than 60% of revenue and about 87% of operating profit in 2025, according to the publicly traded company’s financial filings.
The companies will operate separately.WeMaintain, founded in 2017, has more than 350 employees and operates in Europe and Asia.
