BULGARIA; FRANCE —French energy management major Schneider Electric SE, operating through its wholly-owned subsidiary SE 2026 A SAS, has signed an investment agreement to launch a voluntary public tender offer for 100% of the shares in Sofia-based IoT firm Shelly Group SE. The proposed transaction values the Bulgarian smart building solutions provider at approximately €1.2 billion, offering €70.00 in cash per share. The offer represents a 27% premium over the company's unaffected reference price as of July 28, 2026. The transaction is backed by Shelly Group's board of directors and its two primary founders, who jointly control 57% of the company's equity. Subject to clearance by the Bulgarian Financial Supervision Commission, regulatory approvals, and a 95% minimum acceptance threshold, the deal is expected to close in the first quarter of 2027.
Schneider Electric SE is a global energy management and automation group headquartered in Rueil-Malmaison, France. Shelly Group SE, listed on the Bulgarian Stock Exchange and the Frankfurt Stock Exchange, is a Sofia-based technology enterprise specializing in smart home automation hardware, building management software, and IoT cloud platforms.
Under the terms of the investment framework, Schneider Electric intends to acquire full ownership and eventually delist Shelly Group from public exchanges. Co-CEO Dimitar Dimitrov has committed to tender his 29% stake while reinvesting a portion of the proceeds alongside Schneider Electric to retain his leadership role alongside Co-CEO Wolfgang Kirsch. Co-founder Svetlin Todorov has agreed to sell his 28% holding in two tranches. Schneider Electric has committed to retaining Shelly Group's headquarters, research and development hubs, and operational workforce in Bulgaria for at least three years following completion.
This acquisition highlights accelerating consolidation within the global smart building and energy efficiency markets. Integrating Shelly Group's open IoT platform and connected hardware with Schneider Electric's enterprise distribution network enhances capabilities in residential and commercial energy management. For European technology investors and smart home hardware manufacturers, the transaction underscores growing institutional valuation for software-enabled hardware platforms that optimize power distribution and automation.
