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 subsidiary Shelly Tech, previously trading as GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica. The move marks the final stage of an acquisition process initiated with an Option Agreement signed in January 2023.
The total purchase price for the 24% stake is EUR 948,939.02, calculated in accordance with the terms of the Option Agreement. The transfer of shares is subject to further procedures expected to conclude in the coming weeks. This acquisition consolidates Shelly Group's full ownership of the subsidiary, which specializes in IoT solutions and has been instrumental in the group's regional expansion.
The decision to acquire full control underscores Shelly Group's strategic focus on strengthening its IoT portfolio and operational efficiency. By owning 100% of Shelly Tech, the company can streamline decision-making, integrate technologies more seamlessly, and potentially enhance its competitive edge in the smart building market. The transaction reflects a broader trend in the tech industry where companies are consolidating subsidiaries to maximize synergies and reduce minority interest complexities.
Shelly Group SE develops, designs, and distributes IoT and smart building solutions for both DIY and professional users, emphasizing advanced technology, interoperability, and flexibility. Its products enable remote control, automation, and energy management of electrical appliances via smartphones, PCs, or third-party systems. The company generates revenue from device sales and cloud applications, benefiting from an asset-light manufacturing model through contract manufacturers.
With a strong presence in German-speaking countries and representation in over 100 countries, Shelly Group has sales organizations in key markets including DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the UK, Bulgaria, Slovenia, the US, 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. The original release is available at www.newmediawire.com.
