Kone announced Monday that it has acquired the San Francisco-based Ascent Elevator, strengthening its market presence in the Bay area. 

With the purchase of the independent elevator company, Kone will assume a significant share of the San Francisco Bay area’s service market. Details of the transaction were not disclosed.

Ascent has operated in the San Francisco market since 2004. It has 50 employees.

Kone, the global elevator and escalator company with operations in Quad-Cities, said it will combine Ascent’s elevator operations under the Kone name during the next few months.

“We are thrilled to be adding great new customers in the very important San Francisco market,” said Larry Wash, Kone’s executive vice president and area director for the Americas.

“We also extend a warm welcome to the new team members who will be bringing a broad range of valuable talents and many decades of collective experience to Kone through this acquisition," he said in a news release.

The purchase of Ascent comes four months after Kone expanded its footprint in the Washington, D.C., area with its acquisition of Apex Elevator Corp., based in Fairfax, Va.