Shelly Group SE (Ticker: SLYG / ISIN: BG1100003166), a provider of IoT and smart building solutions headquartered in Sofia, Bulgaria, has exercised a Call Option to acquire the remaining 24% stake in its Slovenian IoT subsidiary, Shelly Tech (formerly GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica). The move marks the final stage of the acquisition, which was initiated through an Option Agreement signed in January 2023.
The total purchase price for the 24% stake is EUR 948,939.02, calculated according to the terms of the Option Agreement. The transfer of shares is subject to further procedures expected to be completed in the coming weeks. This acquisition consolidates Shelly Group's full ownership of Shelly Tech, a company that has been instrumental in the group's IoT and smart building solutions portfolio.
Shelly Group develops, designs, and distributes IoT and smart building solutions for both DIY and professional users, emphasizing advanced technology, seamless interoperability, and high technological flexibility. The company's products enable remote control, automation, and energy management of electrical appliances and smart building systems via smartphones, PCs, or third-party home automation platforms. In addition to device sales, Shelly Group generates revenue from its cloud applications. The group benefits from an asset-light production model by utilizing contract manufacturers.
With a strong presence in German-speaking countries and distribution in over 100 countries, Shelly Group has established sales organizations in regions including 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 (XETRA: SLYG), and is included in the SDAX.
This full acquisition of Shelly Tech is expected to strengthen Shelly Group's operational control and integration of its Slovenian operations, potentially accelerating product development and market expansion in the IoT and smart building sectors. For the industry, this move signals continued consolidation and investment in IoT infrastructure, highlighting the growing importance of smart building solutions in energy management and automation. Investors and stakeholders may view this as a positive step toward streamlined operations and enhanced long-term growth prospects for Shelly Group.
For further information, visit corporate.shelly.com or view the original release on www.newmediawire.com.
