Shelly Group, a Sofia-based developer of IoT and smart-building solutions, has agreed to be acquired by Schneider Electric in a voluntary public takeover valued at approximately €1.2 billion. The French energy-management company is offering €70 per share for the Bulgarian firm, which has established itself as a significant player in the consumer smart-home technology sector since its founding in 2003.
The transaction is conditional upon regulatory approval and acceptance from at least 95% of Shelly Group’s shareholders. Should these conditions be met, the deal is anticipated to conclude during the first quarter of 2027.
Strategic Combination of Capabilities
Schneider Electric’s acquisition of Shelly Group marks a significant consolidation within Europe’s smart-home and building automation markets. The combination seeks to leverage Shelly’s established hardware-software platform alongside Schneider Electric’s extensive global distribution infrastructure and enterprise expertise in energy management.
According to company leadership, the partnership is designed to extend Shelly’s reach into additional markets while preserving the entrepreneurial approach that has characterized the company’s development. Dimitar Dimitrov, Shelly Group’s founder, commented on the transaction: “When we listed the company on the Bulgarian Stock Exchange, we transformed Shelly into an international brand, expanded our product range, grew our team and stayed true to a simple principle: make smart technology practical, open and affordable. With Schneider Electric as a long‑term partner, we can bring Shelly technology to more homes and buildings worldwide while keeping our entrepreneurial spirit and Bulgarian roots.”
Market Context
The acquisition reflects broader industry trends wherein established industrial and energy conglomerates increasingly integrate specialized technology firms to strengthen their positions in the rapidly expanding smart-building segment. Schneider Electric’s investment in Shelly Group underscores the growing commercial value of IoT platforms that bridge consumer and enterprise applications.
Shelly Group has developed a portfolio of connected devices and solutions that address residential and commercial automation requirements. The company’s presence on the Bulgarian Stock Exchange demonstrates the maturation of Bulgarian technology companies and their appeal to international acquirers.
The transaction highlights the continuing vitality of European startup ecosystems, particularly in Central and Eastern Europe, where Bulgarian companies have established themselves in advanced technology sectors. As European businesses increasingly prioritize digital transformation and energy efficiency—driven by regulatory frameworks and market demand—acquisitions of specialized technology providers by larger industrial firms are likely to remain a notable feature of the continent’s M&A landscape.