What has changed with Shelly?
Schneider Electric has agreed a voluntary public takeover of Shelly Group at €70 in cash per share. That equals roughly €1.2 billion and a 27% premium over Shelly's unaffected reference price of €55.20, or 22% over the €57.50 reference price at announcement. Shelly shares trade in Sofia and on Frankfurt's Xetra platform.
| Detail | What was announced |
|---|---|
| Offer | €70.00 in cash per share, via a Schneider subsidiary |
| Value | About €1.2 billion |
| Founder support | Co-CEO Dimitar Dimitrov (about 29%) and co-founder Svetlin Todorov (about 28%) back the deal |
| Condition | More than 95% of capital tendered, then a planned delisting |
| Approvals | Bulgarian Financial Supervision Commission, plus merger-control clearance |
| Expected close | By Q1 2027 |
| Leadership | Dimitrov stays Co-CEO alongside Wolfgang Kirsch |
The offer has not yet been registered or published, so shareholders cannot tender yet. Once the offer document is out, Shelly's board must issue a reasoned opinion under Bulgarian securities law. Todorov's sale runs in two tranches, 5% first and about 23% after merger-control clearance.
What does Schneider say it will keep?
Schneider intends to keep Shelly's Bulgarian headquarters, operating footprint, organisational structure and workforce, including R&D, engineering, sales and operations, for at least three years. Both companies say the brand and technology base continue. Schneider's Frederic Godemel pointed to Shelly's strength in connectivity at scale, interoperability and home energy management as the draw.
That is a statement of intent, not a contract with customers. Neither announcement says anything specific about local control, open APIs or Home Assistant, so treat those as unanswered rather than promised.
Why does this matter for Home Assistant users?
Yes, today's devices are unaffected. Home Assistant classes its Shelly integration as Local Push: it talks directly to the device and the documentation states that a cloud connection is not needed. It supports all four Shelly generations and carries the top Platinum quality-scale rating.
Because the connection runs over your own network, a change of owner cannot switch it off remotely. What could change is future behaviour: firmware, the Shelly app, cloud features and which new products get open protocols. Shelly's recent moves are the best guide to its direction. It released free Thread firmware for Gen4 devices (Shelly ThreadLink), added Matter and Zigbee to its leak sensor (Shelly Flood S Gen4 review), and launched a camera that works without a subscription (Shelly Camera). Shelly itself describes the deal as combining its platform with Schneider's energy-management expertise, and mentions subscription opportunities as part of its platform approach.
Should you stop buying Shelly devices?
No. There is no announced change to products, pricing or support, and the deal is not due to close until Q1 2027 at the earliest. A relay or plug you buy now keeps working locally in Home Assistant whoever owns the company, and Home Assistant users have long relied on that independence from vendor clouds.
If you are planning a larger install, a sensible approach is to prefer models that expose local APIs or Matter, avoid depending on any vendor app for core automations, and keep firmware updates manual until you have read the changelog. For a hands-on look at a typical product, see our Shelly Plug S review.
What we don't know yet
Several points remain open until the offer document and regulatory decisions appear:
- Whether the offer reaches the 95% threshold and is cleared by regulators.
- Whether Schneider will bring Shelly into its own energy-management products, and what that means for the open APIs Shelly is known for.
- Whether pricing, UK distribution or the free-to-use cloud tier change after closing.
We will update this article when the offer document is published.
