# Somfy Group acquires 75% of Teleco Automation

Teleco Automation has signed an agreement to sell 75% of its shares to Somfy Group, world leader in automatic controls for openings and closures. The deal aims to improve capacity to offer customized and integrated solutions.

- Type: Acquisition
- Announced: 2022-02-22
- Status: announced
- Products: automatic controls for openings and closures, connected home solutions
- Sectors: [Automation and Robotics](https://endata.com/sectors/automation-robotics.md), [Electrical Equipment](https://endata.com/sectors/electrical-equipment.md)

## Companies

- [Somfy Group](https://endata.com/companies/61212.md) (acquirer)
- [Teleco Automation](https://endata.com/companies/61213.md) (target)

## Sources

- [telecoautomation.com](https://www.telecoautomation.com/en/teleco-entra-a-far-parte-del-gruppo-somfy/), 2022-02-22: "We announce that we have signed an agreement to sell 75% of our shares to SOMFY Group, world leader in automatic controls for openings and closures in homes and buildings."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.