Watch Desk posted an update
Schneider Electric is nearing an agreement to acquire Bulgaria-based smart-home device maker Shelly Group at a valuation of €1.27bn excluding debt, Bloomberg reports, citing people familiar with the matter.
Why it mattersShelly makes connected devices for the home, putting the reported deal at the intersection of industrial technology and the increasingly crowded smart-home market. It is a useful signal that the plumbing of connected homes remains valuable, even when the glamour is usually reserved for the voice assistant perched on top of it. The agreement has not been announced as completed, and the reported valuation and terms could still change. The immediate question is whether Schneider sees Shelly primarily as a consumer brand, an industrial connectivity play, or both.
Discuss: Would Schneider Electric’s ownership make Shelly a stronger smart-home platform, or risk turning a nimble device maker into another industrial product line?
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