Otis Acquires Majority Stake in PropTech Company WeMaintain

Otis announced on April 13 that it agreed to acquire a majority stake in WeMaintain, a fast-growing property technology (PropTech) company based in Paris and London. The investment reflects "Otis' continued focus on advancing service and service technology to deliver the best possible solutions for customers," Otis stated. Otis and WeMaintain will operate as separate entities, with WeMaintain continuing to offer its agnostic Internet of Things (IoT)- and AI-based solutions to current and future customers. Founded in 2017 by Benoit Dupont and Jade Francine, WeMaintain combines AI-driven insights, IoT-powered data and on-the-ground expertise to deliver real-time visibility, enhanced operational efficiency and increased equipment reliability for building owners and operators. The company has operations across Asia and Europe and more than 350 employees, providing services and solutions for elevators, escalators, automatic doors and fire-safety systems.