M&A Deal Summary

RTX Acquires OTIS

On January 1, 1976, RTX acquired machinery company OTIS

Acquisition Highlights
  • This is RTX’s 1st transaction in the Machinery sector.
  • This is RTX’s 1st transaction in the United States.
  • This is RTX’s 1st transaction in Connecticut.
Investment Fate
  • OTIS was sold to a strategic buyer in 2020.

M&A Deal Summary

Date 1976-01-01
Target OTIS
Sector Machinery
Buyer(s) RTX
Deal Type Add-on Acquisition

Target

OTIS

Farmington, Connecticut, United States
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.
Entrance to Otis Elevator's corporate headquarters in Farmington, Connecticut.
OTIS is a manufacturer and maintainer of people moving products, including elevators, escalators, and moving walkways. OTIS was formed in 1853 and is based in Farmington, Connecticut.

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Buyer(S) 1

Buyer

RTX

Arlington, Virginia, United States

Category Company
Founded 1934
Sector Diversified
Employees185,000
Revenue 80.7B USD (2024)
DESCRIPTION

RTX is a diversified producer of high technology products and services to the building systems and aerospace industries worldwide. The Company's business segments include Pratt & Whitney, UTC Aerospace Systems, and Raytheon which serve commercial and government customers in both the original equipment and aftermarket parts and services markets of the aerospace industry. Pratt & Whitney also provides products to certain industrial markets. Raytheon provides state-of-the-art electronics, mission systems integration, C5I products and services, sensing, effects and mission support for customers in more than 80 countries. RTX was founded in 1934 and is based in Arlington, Virginia.


DEAL STATS #
Overall 1 of 22
Sector (Machinery) 1 of 3
Type (Add-on Acquisition) 1 of 18
State (Connecticut) 1 of 1
Country (United States) 1 of 19
Year (1976) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1978-03-03 Ambac Industries

South Carolina, United States

Ambac is a manufacturer of diesel fuel‐injection, systems, small motors for the auto industry amongst a variety of other medical, industrial and scientific instruments.

Buy $210M