Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, announced that it has exercised a Call Option to acquire the remaining 24% stake in its Slovenian subsidiary Shelly Tech (previously GOAP d.o.o.). The move marks the final stage of the acquisition process that began with an Option Agreement signed 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. Shelly Group initially acquired a majority stake in the company in early 2023, and this transaction gives it full ownership.
Shelly Tech specializes in IoT solutions and has been a key part of Shelly Group's expansion strategy in the region. The subsidiary, based in Nova Gorica, Slovenia, brings expertise in automation and process engineering. By consolidating full control, Shelly Group aims to streamline operations and leverage synergies within its growing portfolio of smart building and energy management products.
The acquisition aligns with Shelly Group's broader strategy to strengthen its presence in the IoT market, where it offers a range of devices for remote control, automation, and energy management. The company operates with an asset-light model, relying on contract manufacturers, and distributes products in over 100 countries. Its cloud applications also contribute to recurring revenue.
Shelly Group SE is listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (XETRA: SLYG) and is included in the SDAX index. The company has sales organizations in key markets including DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China.
For further information, visit corporate.shelly.com.
