Shelly Group, a provider of IoT and smart building solutions based in Sofia, Bulgaria, has entered into an Investment Agreement with SE 2026 A SAS, a wholly-owned subsidiary of Schneider Electric, to set out the terms on which Shelly Group would support Schneider Electric’s intended voluntary public tender offer for all outstanding shares in Shelly Group.
The proposed transaction is intended to support Shelly Group’s next phase of development as an international technology and platform company. It is expected to combine Shelly’s technology platform and customer proximity with Schneider Electric’s global reach, resources and energy-management expertise, while preserving Shelly Group’s entrepreneurial culture, organisation and workforce in Bulgaria.
This platform approach enables Shelly Group to connect energy consumption, generation, storage and automation across a range of residential and small-building applications. It creates the basis for customer relationships, additional software and subscription opportunities, and the integration of Shelly technology into the products and solutions of other manufacturers.
Dimitar Dimitrov, Co-Chief Executive Officer and Co-Founder of Shelly Group, said, “We have built Shelly into an international brand, broadened our product range, expanded our team and remained faithful to a simple principle: making smart technology practical, open and accessible. With Schneider Electric as a long-term partner, we can bring Shelly’s technology to more homes and buildings globally, while retaining the entrepreneurial spirit, product focus and Bulgarian roots that have defined us from the beginning.”
Wolfgang Kirsch, Co-Chief Executive Officer of Shelly Group, added, “Our secondary listing in Frankfurt in 2021 marked an important step in opening Shelly Group to international investors. We have broadened our portfolio, expanded across Europe, built a growing professional ecosystem and, this year, became the first Bulgarian company to join the SDAX. With Schneider Electric, we see the opportunity to combine Shelly’s entrepreneurial culture, open technology platform and customer proximity with global reach and additional resources, while remaining firmly anchored in Bulgaria.”
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*Offer ends on Friday, 7th February.
