Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, announced on July 28, 2026, that it has exercised a Call Option to acquire the remaining 24% stake in its Slovenian subsidiary Shelly Tech (previously GOAP d.o.o.). The move marks the final stage of the acquisition process initiated 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 share transfer is subject to further procedures expected to be completed in the coming weeks. This acquisition will give Shelly Group full ownership of Shelly Tech, a key player in the company's IoT ecosystem.
This consolidation is significant for Shelly Group as it strengthens control over its subsidiary's technology and operations. Shelly Tech specializes in IoT solutions, which are central to Shelly Group's product lineup, including remote control, automation, and energy management for electrical appliances and smart buildings. By owning 100% of Shelly Tech, the group can streamline decision-making and integrate R&D efforts more effectively.
For the IoT and smart building industry, this acquisition signals a trend toward vertical integration. As competition intensifies, companies like Shelly Group are seeking to secure proprietary technologies and reduce reliance on external partners. The move could accelerate innovation in smart building solutions, particularly in energy management, which is increasingly important amid rising energy costs and sustainability goals.
Investors may view this as a positive step, as full ownership can lead to cost synergies and improved margins. Shelly Group, listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange (ticker: SLYG) and included in the SDAX, has demonstrated a commitment to expanding its footprint. The company already has a strong presence in German-speaking countries and operates in over 100 markets worldwide.
The announcement also highlights the strategic importance of Shelly Tech's location in Slovenia, a hub for tech innovation in Europe. By fully integrating the subsidiary, Shelly Group can leverage local talent and potentially expand its manufacturing partnerships through asset-light production with contract manufacturers.
For further details, the company directs stakeholders to its corporate website at corporate.shelly.com. The original press release is available on NewMediaWire.
