On the Record · Otis Worldwide
Otis Worldwide acquisitions, on the record
The businesses Otis Worldwide bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
Russia businessWord for word“As previously disclosed, we sold our business in Russia, which represented approximately 1% and 2% of both our revenue and operating profit in 2022 and 2021, respectively, to a third party on July 27, 2022.” 10-K for 2023 | divestiture | July 27, 2022 | — |
Zardoya Otis shares not owned by the Company (Otis Mobility)Word for word“The shares tendered to the Company were settled in cash on April 12, 2022 for approximately €1.5 billion from the Company's restricted cash held in escrow, resulting in the Company owning 95.51% of Zardoya Otis.” 10-K for 2023 | acquisition | April 12, 2022 | approximately €1.5 billion |
remaining Zardoya Otis shares not owned by the CompanyWord for word“The acquisition and settlement of the remaining issued and outstanding shares of Zardoya Otis not owned by the Company occurred in the second quarter of 2022 for approximately € 150 million.” 10-K for 2023 | acquisition | second quarter of 2022 | — |
Zardoya Otis (Otis Mobility)Word for word“The shares tendered to the Company were settled in cash on April 12, 2022 for approximately €1.5 billion from the Company's restricted cash held in escrow, resulting in the Company owning 95.51% of Zardoya Otis.” 10-K for 2024 | agreed acquisition | April 12, 2022 | approximately €1.5 billion |
Remaining shares of Zardoya Otis not owned by the CompanyWord for word“The acquisition and settlement of the remaining issued and outstanding shares not owned by the Company for approximately €150 million (based on the adjusted tender price of €7.07 per share) and the automatic delisting of Zardoya Otis shares both occurred during the second quarter of 2022.” 10-K for 2024 | acquisition | second quarter of 2022 | approximately €150 million |
Noncontrolling shares of consolidated subsidiary in JapanWord for word“In 2024, we purchased all of the outstanding shares of our consolidated subsidiary in Japan from the noncontrolling shareholders for approximately $ 70 million.” 10-K for 2024 | acquisition | 2024 | approximately $ 70 million |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2018-12-31 | $50 million | — |
| 2019-12-31 | $47 million | $16 million |
| 2020-12-31 | $53 million | $30 million |
| 2021-12-31 | $80 million | $2 million |
| 2022-12-31 | $46 million | $18 million |
| 2023-12-31 | $36 million | $7 million |
| 2024-12-31 | $87 million | $46 million |
| 2025-12-31 | $109 million | $65 million |
Deal filings since 2016
- 2025-08-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-03-10 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-11-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-09-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-04-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Otis Worldwide’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-05. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.