Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, has exercised a Call Option to acquire the remaining 24% stake in its Slovenian subsidiary Shelly Tech, previously known as GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica. This move completes the acquisition process initiated in January 2023 under an Option Agreement with the Target Company's shareholders.
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 finalized in the coming weeks. The acquisition consolidates Shelly Group's full ownership of Shelly Tech, which has been a key player in the development of IoT solutions, particularly in energy management and smart building automation.
This strategic acquisition underscores Shelly Group's commitment to strengthening its technological capabilities and expanding its footprint in the IoT market. By fully owning Shelly Tech, the company aims to streamline operations, enhance integration of hardware and software solutions, and accelerate innovation in smart building technologies. The subsidiary's expertise in automation and process control complements Shelly Group's existing product portfolio, which includes remote control and energy management solutions for DIY and professional users.
Shelly Group benefits from an asset-light production model through contract manufacturers and generates revenue from both device sales and cloud applications. The company has a strong presence in over 100 countries, with sales organizations across Europe, the United States, and China. Its shares are listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange's Prime Standard, and it is included in the SDAX index.
For more information, visit corporate.shelly.com. Investor inquiries can be directed to CROSS ALLIANCE communication GmbH via Sven Pauly at +49 89 125 09 0331 or www.crossalliance.de.
