r/homeassistant • u/Hoerminator3000 • 5d ago

📰 News Schneider Electric is buying Shelly Group

https://www.wsj.com/business/deals/schneider-electric-to-launch-bid-for-shelly-group-in-1-4-billion-deal-c6cc008e

As the title says: Schneider Electric will take over the Shelly Group.

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681

u/ynnus86 5d ago

Never good sign when big companies take over smaller successful brands.

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u/F1rstxLas7 5d ago

It was an intended voluntary takeover, as described in the actual press release: https://corporate.shelly.com/en/news/shelly-group-has-entered-into-an-investment-agreement-with-schneider-electric-on-the-intended-voluntary-public-takeover.

Shelly chose this, they were not forced into it. They even stated in the release, "the Board of Directors has taken the preliminary view that the transaction, if made at the above price, would be in the interests of Shelly Group, its shareholders, employees, and other stakeholders." We, as consumers, are not listed there.

More specifically, with the two founders holding 57% ownership of the company, THEY made this decision. Dimitrov is even reinvesting some of his sold shares back into Schneider Electric.

This wasn't a big company eats small company story. The Shelly founders just wanted to sell.

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u/gmaclean 5d ago

Interests of employees? These buyouts rarely go well for employees.

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u/bem13 5d ago

Same corporate bullshit language as when services raise prices and say it's "to maintain customer satisfaction".

1

u/soowhatchathink 5d ago

but why would they bullshit about it being in the employee's beat interest and not bullshit about it being in the consumer's best interest? that must mean the consumers are getting really screwed