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% of the share capital 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 and the Target Company’s shareholders, announced in January 2023.
The total purchase price for the 24% stake under the exercised Call Option is EUR 948,939.02, calculated in accordance with 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 control over its Slovenian subsidiary, which is integral to the company’s IoT and smart building solutions portfolio.
Shelly Group develops, designs, and distributes IoT and smart building solutions for DIY and professional users. The company offers advanced technology, seamless interoperability, and high technological flexibility. Shelly products enable remote control, automation, and energy management of electrical appliances and smart building solutions via smartphones, PCs, or third-party home automation systems. In addition to device sales, Shelly Group generates revenue from its cloud applications and benefits from asset-light production through contract manufacturers.
With a strong presence in German-speaking countries and representation in over 100 countries, Shelly Group has 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. For further information, visit corporate.shelly.com.
This acquisition underscores Shelly Group’s strategic commitment to strengthening its IoT capabilities and expanding its market reach. By fully owning Shelly Tech, the company can streamline operations and enhance its product offerings in the smart building sector. The completion of this deal is expected to contribute positively to Shelly Group’s growth trajectory and market position.
