Otis completed the acquisition of Bay State Elevator.

Otis, an American company that develops, manufactures and markets elevators, escalators, moving walkways, and related equipment, completed the acquisition of Bay State Elevator, a provider of elevator services. Financial terms were not disclosed. "This acquisition expands our scale and density in the Northeast region and demonstrates our commitment to strategically accelerate service portfolio growth. The Bay State Elevator team is well-respected within our industry, and we welcome them to Otis. We look forward to working together to serve existing Bay State customers and introducing them to our service offerings and comprehensive range of Otis products," Jim Cramer, Otis Americas President.