Shelly Group Acquires Remaining 24% Stake in Slovenian Subsidiary Shelly Tech

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 IoT subsidiary Shelly Tech, previously known as GOAP Racunalniški inzeniring in avtomatizacija procesov d.o.o. Nova Gorica. The move marks the final stage of the acquisition process, following an Option Agreement signed between Shelly 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.

Shelly Group develops, designs, and distributes IoT and smart building solutions for both DIY and professional users, offering advanced technology, seamless interoperability, and a high degree of technological flexibility. Shelly products enable remote control, automation, and energy management of electrical appliances and smart building solutions via smartphones, PCs, or third-party home automation systems. In addition to device sales, the Group generates revenue from cloud applications and benefits from asset-light production through contract manufacturers.

The Company has a strong presence in German-speaking countries and markets its products in over 100 countries, with 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 on 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.