Otis Takes Majority Stake in WeMaintain, Supporting Growth and Innovation in Service Technology

HONG KONG SAR –
Media OutReach Newswire – 14 April 2026 –
Otis Worldwide Corporation (NYSE: OTIS), the world’s leading company for elevator and escalator manufacturing, installation, service and modernization, and
WeMaintain today announced that they have closed an agreement under which Otis will acquire a majority stake in WeMaintain, a fast-growing, technology-enabled service company for the elevator and escalator industry. ​ The investment reflects Otis’ continued focus on advancing service and service technology to deliver the best possible solutions for customers.

Otis and WeMaintain leadership teams. Pictured left to right is Nora LaFreniere, Executive Vice President & General Counsel, Otis Worldwide Corporation; Judy Marks, Chair, Chief Executive Officer and President, Otis Worldwide Corporation; Jade Francine, Chief Growth Officer, WeMaintain; Benoit Dupont, Chief Executive, WeMaintain.

“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
Judy Marks, Chair, CEO and President, Otis Worldwide Corp. “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.”

“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,” said
Benoit Dupont, WeMaintain CEO. ” 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.”

Otis and WeMaintain will operate as separate entities, and WeMaintain will continue to offer its agnostic IoT and AI-based solution to its current and future customers.

Hashtag: #Otis #WeMaintain

The issuer is solely responsible for the content of this announcement.