Shelly Group SE (Ticker: SLYG/ ISIN: BG1100003166), 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 Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica). This move represents the final stage of the acquisition process based on an Option Agreement signed between Shelly and the Target Company’s shareholders, which was 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 underscores Shelly Group’s commitment to consolidating its operations and strengthening its foothold in the IoT and smart building solutions market.
Shelly Group develops, designs, and distributes 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 and smart building solutions via smartphones, PCs, or third-party home automation systems. The company generates revenue from device sales and cloud applications, benefiting 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 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, please visit corporate.shelly.com. The original release is available on www.newmediawire.com.
