Cybersecurity

Finnish lift maker Kone acquires German rival TKE, creating giant

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Kone, a Finnish elevator manufacturer, has acquired its German competitor TKE in a deal valued at 29.4 billion euros, forming one of Europe's largest companies with annual revenue of around 20.5 billion euros and operations spanning over 100 countries. This merger strengthens Kone’s global presence and service offerings, particularly in the Americas and Asia, aligning with growing demand for elevator services due to urbanization and aging populations.

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