Schneider Electric Reportedly Exploring €1.3 Billion Acquisition of Shelly Group

Schneider Electric is reportedly in preliminary discussions to acquire Bulgarian IoT and smart building solutions provider Shelly Group in a deal valued at approximately €1.3 billion. According to an analysis by Memoori, the talks are still at an early stage, and no final agreement has been reached. Shelly Group confirmed that it entered into preliminary discussions with Schneider Electric on July 29 regarding a potential tender offer for the company’s shares.

Founded in 2010 and headquartered in Sofia, Bulgaria, Shelly Group develops and distributes IoT and smart building solutions for both professional and DIY users, including products for automation, energy management, and remote building control. Memoori believes that the potential acquisition would represent a logical expansion of Schneider Electric’s smart building and Internet of Things portfolio while further strengthening the company’s presence in the European market. However, both parties have emphasized that negotiations are ongoing and that there is no certainty the transaction will be completed.