Shelly Group acquires LOQED assets and expands into growth segment smart locks
Shelly Group AD has entered the smart locks market by acquiring the assets of Dutch company LOQED B.V., including technology, IP, and inventory. The move allows Shelly to integrate smart locks into its portfolio and connect them with the Shelly Cloud ecosystem.
Market Growth
The smart locks segment is projected to reach USD 5.8 billion by 2029, driven by increasing demand for secure and flexible access. Shelly sees strong potential across both residential and commercial sectors, from households to hotels and offices.
Strategic Benefits
According to Co-CEO Wolfgang Kirsch, the acquisition creates immediate opportunities: “We will be able to generate revenue from existing products from day one, while ensuring compatibility with Shelly’s value-for-money philosophy.” The company expects smart locks to significantly contribute to growth starting in 2025.
Co-CEO Dimitar Dimitrov added: “LOQED's smart locks fit perfectly with our approach of seamless integration and interoperability of hardware and software. We intend to add further APIs to the locks for a wide range of providers and use cases. ”
Product Features
LOQED smart locks offer stainless-steel hardware, Bluetooth and code entry, plus functions like time-controlled access and guest links. Certified to European standards, they provide high resistance to burglary while ensuring smooth integration with other Shelly solutions.
