Schneider Electric nears deal for smart device firm Shelly, Bloomberg News reports

Sept 24 (Reuters) - French industrial technology firm Schneider Electric SE is nearing an agreement to acquire Shelly Group SE, a maker of smart devices for the home, Bloomberg News reported on Thursday, citing people familiar with the matter. 

Schneider has been discussing an offer of about €70 ($79.65) a share, that would value Bulgaria-based Shelly Group at around €1.27 billion, excluding debt, the report added. 

($1 = 0.8789 euros)

(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Nivedita Bhattacharjee)