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% stake in its Slovenian subsidiary Shelly Tech (previously GOAP d.o.o.). This move marks the final stage of the acquisition process, which 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 procedural steps expected to conclude in the coming weeks. This acquisition consolidates Shelly Group's ownership of Shelly Tech, enhancing its control over the subsidiary's operations and strategic direction.
Shelly Tech, based in Nova Gorica, Slovenia, has been a key player in the IoT space, and its full integration into Shelly Group is expected to streamline operations and foster innovation. Shelly Group, known for its IoT and smart building solutions, continues to expand its footprint globally, with products available in over 100 countries. The company benefits from an asset-light production model through contract manufacturers and generates revenue from device sales and cloud applications.
For more information, visit corporate.shelly.com. The original announcement can be viewed on NewMediaWire.
