Otis Worldwide To Buy Majority Stake In WeMaintain

India, April 13 -- Otis Worldwide Corporation (OTIS), a maker of elevators, escalators, and others, said on Monday that it will buy a majority stake in WeMaintain, a service provider 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," the acquirer said.

Otis and WeMaintain will operate as separate companies, and WeMaintain will continue to offer its agnostic IoT and AI-based solutions.

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Published by HT Digital Content Services with permission from RTT News....