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KONE acquires TK Elevator in €29.4 billion merger

PRIVATESep 07, 2026•about 11 hours ago

Acquiring Company

KONE

Acquired Company

TK Elevator

Transportation

Description

KONE has announced its acquisition of TK Elevator, seeking regulatory approval for the merger in India. The €29.4 billion deal is noted as Finland's largest corporate transaction. KONE aims to gain sole control over TKE, which has a significant footprint in the Indian elevator market. The acquisition addresses overlaps in installation and maintenance services between the two companies.

Company Information

Company

KONE

About

At KONE, our mission is to improve the flow of urban life. As a global leader in the elevator and escalator industry, KONE provides elevators, escalators and automatic building doors, as well as solutions for maintenance and modernization to add value to buildings throughout their life cycle. Through more effective People Flow®, we make people's journeys safe, convenient and reliable, in taller, smarter buildings. In 2020, KONE had annual sales of EUR 9.9 billion, and at the end of the year over 60,000 employees. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.kone.com For more information, see www.kone.us SOURCE KONE

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

Frequently asked

Who acquired TK Elevator?

TK Elevator was acquired by KONE. The deal was reported on September 7, 2026. At KONE, our mission is to improve the flow of urban life. KONE is privately held.

When did KONE acquire TK Elevator?

KONE's acquisition of TK Elevator was reported on September 7, 2026. KONE has announced its acquisition of TK Elevator, seeking regulatory approval for the merger in India. The €29.4 billion deal is noted as Finland's largest corporate transaction. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.

What does TK Elevator do?

TK Elevator (TKE) is a global leader in vertical transportation and urban mobility. The company specializes in providing advanced elevator and escalator technology. TKE focuses on innovation, sustainability, and customer success. It is privately held, operating in Transportation.

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