Schneider Electric buys Shelly Group for €1.2 billion and tests the limits of local-first

Schneider Electric announced a €1.2 billion voluntary takeover bid for Bulgaria’s Shelly Group on 24 September 2026, at €70 a share. For self-hosters who run Shelly relays over MQTT and Home Assistant without any cloud, the question is whether the open APIs outlive the industrial buyer.