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 (formerly GOAP d.o.o.). This acquisition marks the final stage of the transaction, which was initiated in January 2023 when Shelly Group signed 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 agreement. The share transfer is subject to further procedures expected to be completed in the coming weeks.
This strategic move allows Shelly Group to gain full control over Shelly Tech, which specializes in IoT and automation solutions. By consolidating ownership, the company aims to streamline operations and enhance its competitive edge in the rapidly growing smart building market. The acquisition underscores Shelly Group's commitment to expanding its technological capabilities and market presence, particularly in Slovenia and broader European markets.
Shelly Group is known for its asset-light production model, relying on contract manufacturers, and generates revenue from both device sales and cloud applications. The company has a strong international footprint, with sales organizations across DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. Its products are available in over 100 countries.
For further information, visit corporate.shelly.com. Shelly Group SE is listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (XETRA: SLYG), and is included in the SDAX. Contact Investor Relations via Cross Alliance Communication GmbH at www.crossalliance.de.
