Schneider Electric to Acquire Shelly Group in $1.4 Billion Deal
Schneider Electric has agreed to acquire Shelly Group, a Bulgarian smart device maker, for approximately €1.2 billion ($1.4 billion) excluding debt through a tender offer at €70 per share. The deal aims to strengthen Schneider's position in the home automation and energy management markets by integrating Shelly’s innovative products into its portfolio. Shelly Group is known for producing smart switches, sensors, and other connected devices that help consumers manage their electricity usage more efficiently. This acquisition aligns with growing demand for sustainable technologies and smart home solutions driven by increasing consumer awareness of energy efficiency.
