Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, announced the exercise of a Call Option to acquire the remaining 24% stake in its Slovenian subsidiary Shelly Tech (formerly GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica). The move marks the final stage of the acquisition process initiated under an Option Agreement signed in January 2023.
The total purchase price for the 24% stake is EUR 948,939.02, calculated in accordance with the terms of the Option Agreement. The share transfer is subject to further procedures expected to be completed in the coming weeks. This transaction gives Shelly Group full ownership of the subsidiary, which specializes in IoT and automation solutions.
For business leaders and industry observers, this acquisition underscores Shelly Group's strategy to consolidate its IoT and smart building capabilities. By gaining complete control over Shelly Tech, the company can streamline operations, integrate technologies more deeply, and potentially accelerate product development. The subsidiary's expertise in automation and process control complements Shelly Group's existing portfolio of IoT devices and cloud applications.
Shelly Group develops, designs, and distributes IoT and smart building solutions for both DIY enthusiasts and professional users, emphasizing advanced technology, seamless interoperability, and high technological flexibility. Their products enable remote control, automation, and energy management of electrical appliances and smart building systems via smartphones, PCs, or third-party home automation platforms. Revenue is generated not only from device sales but also from cloud applications, benefiting from an asset-light production model through contract manufacturers.
The company has a strong presence in German-speaking countries and markets its products in over 100 nations. Its sales organizations span DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. Shelly Group SE is listed on the Bulgarian Stock Exchange and the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the ticker SLYG, and is included in the SDAX index.
This acquisition is a clear signal of Shelly Group's commitment to strengthening its foothold in the IoT and smart building sector. For the industry, it reflects a trend of consolidation as companies seek to integrate key technologies and talent to enhance their competitive edge. The full ownership of Shelly Tech could lead to more integrated solutions and potentially faster innovation cycles, benefiting customers and partners alike.
For more information, visit the corporate website at corporate.shelly.com.
