(adds that Shelly’s founders accept the offer)Energy technology company Schneider Electric has reached an agreement with Shelly Group, which sells smart-home technology, on an offer of 70 euros per share. The offer is conditional on Schneider Electric reaching at least 95 percent ownership following the offer and obtaining the necessary regulatory approvals.The offer is supported by Shelly’s two founders, who together own around 57 percent of the company.Shelly’s board has preliminarily assessed that the transaction is in the interests of the company and its shareholders. Founder and co-CEO Dimitar Dimitrov, who owns approximately 29 percent, has undertaken to accept the planned offer and reinvest part of the proceeds. Co-founder Svetlin Todorov, with around 28 percent of the shares, has agreed to sell his holding in two stages.Yesterday, Shelly Group closed at 64.90 euros. Its market capitalization is 1.16 billion euros. Shelly competes with Swedish Plejd.