Shelly Group SE (Ticker: SLYG / ISIN: BG1100003166), a provider of IoT and smart building solutions based in Sofia, Bulgaria, has exercised a Call Option for the acquisition of the remaining 24% of the share capital in its Slovenian IoT subsidiary Shelly Tech (previously trading as GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica). This move marks the final stage of the acquisition process that began with an Option Agreement signed between Shelly Group 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 ownership of Shelly Tech, which is integral to its IoT and smart building solutions portfolio.
The importance of this announcement lies in Shelly Group’s strategic move to fully control its Slovenian subsidiary, which enhances its operational efficiency and aligns with its growth strategy in the IoT sector. Shelly Group develops, designs, and distributes IoT and smart building solutions for DIY and professional users, offering advanced technology, seamless interoperability, and high technological flexibility. 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.
Shelly Group generates revenue not only from device sales but also 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, the company has sales organizations in DACH, Benelux, the Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. Shelly Group SE 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 on www.newmediawire.com.
