Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, announced it 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. The move completes the full acquisition of the company, which was initiated with an option agreement signed in January 2023.
The 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. This acquisition brings Shelly Group's ownership of Shelly Tech to 100%, consolidating its control over the subsidiary's IoT and smart building technologies.
Shelly Group, listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange under the ticker SLYG, specializes in IoT and smart building solutions for both DIY and professional users. The company's products enable remote control, automation, and energy management of electrical appliances via smartphones, PCs, or third-party home automation systems. Shelly Group also generates revenue from cloud applications and benefits from asset-light production through contract manufacturers.
The full ownership of Shelly Tech is expected to strengthen Shelly Group's capabilities in IoT innovation and expand its footprint in Slovenia and surrounding markets. The subsidiary, based in Nova Gorica, has been a key contributor to the group's technology development. With a presence in over 100 countries and sales organizations across Europe, the United States, and China, Shelly Group aims to leverage this acquisition to enhance its product offerings and competitive position in the smart building industry.
For further information, visit corporate.shelly.com.
