Shelly Group SE (Ticker: SLYG / ISIN: BG1100003166), 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 IoT subsidiary Shelly Tech, previously known as GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica. This move marks the final stage of the acquisition process based on an Option Agreement signed between Shelly Group and the subsidiary's shareholders 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 strengthens Shelly Group's control over its Slovenian operations, which are integral to its IoT and smart building solutions portfolio.
Shelly Group develops, designs, and distributes IoT and smart building solutions for both DIY enthusiasts and professional users. The company's products offer advanced technology, seamless interoperability, and high technological flexibility, enabling 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, the group generates revenue from its cloud applications and benefits from an asset-light production model through contract manufacturers.
With a strong presence in German-speaking countries and representation in over 100 countries, Shelly Group operates sales organizations in DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. The company 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 index.
This acquisition is significant as it consolidates Shelly Group's ownership of a key subsidiary, potentially streamlining operations and enhancing strategic focus in the competitive IoT market. By fully owning Shelly Tech, the group can better integrate its technologies and expand its smart building solutions, which are increasingly important for energy efficiency and automation in residential and commercial sectors. The move also reflects Shelly Group's commitment to strengthening its foothold in Slovenia and the broader European market.
For further information, visit corporate.shelly.com.
