Cool Holdings, Inc. Announces Acquisition of Simply Mac and Becomes the Largest Apple Premier Partner in the United States
MIAMI, Sept. 26, 2019 /PRNewswire/ -- Cool Holdings, Inc. (NASDAQ: AWSM) (the "Company") today announced that it has completed the acquisition of Simply Mac, Inc., from GameStop, Inc. (NYSE: GME). Simply Mac, based in Salt Lake City, Utah, is a chain of 41 retail stores across 18 states. It is an authorized reseller of Apple products and industry-leading high-profile accessory brands, and is the largest Apple Premier Partner in the U.S. Together with its 16 existing OneClick stores, the Company now operates 57 retail stores in the United States, Argentina and the Dominican Republic.
Commenting on the acquisition, Rein Voigt, president and chief executive officer of Cool Holdings, stated: "We have been working on the Simply Mac acquisition for some time, and are extremely pleased to have it completed as a critical milestone as part of our retail expansion plans. Simply Mac is of great strategic importance to our Company, and we expect it will be the foundation for us to achieve profitability in the future. We intend to adopt the vision, values and mission statement upon which Simply Mac was founded in all our existing stores, and in those we may acquire in the future. Customer satisfaction is paramount, and our vision is to be America's premier technology retailer. One of the most important segments of Simply Mac's business is service, and the support of Apple products in cities where Apple has no presence. Located primarily in smaller cities close to a university, Simply Mac is an important provider of Apple authorized service in the U.S. We welcome the dedicated employees of Simply Mac to our team, and look forward to working with them to extend the Simply Mac name to more cities across the U.S."
About Cool Holdings, Inc.
Cool Holdings is a Miami-based company currently comprised of Simply Mac and OneClick, two chains of retail stores and an authorized reseller under the Apple® Premier Partner, APR (Apple® Premium Reseller) and AAR MB (Apple® Authorized Reseller Mono-Brand) programs and Cooltech Distribution, an authorized distributor to the OneClick® stores and other resellers of Apple® products and other high-profile consumer electronic brands. Additional information can be found on its website at www.coolholdings.com.
Forward-looking and cautionary statements
Forward-looking statements in this press release and all other statements that are not historical facts are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements, including those related to expansion of our stores in various geographic regions and achievement of profitability, involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements. There are a number of factors that could cause actual events to differ materially from those indicated by such forward-looking statements, including actions by third parties, such as Apple. These factors include, but are not limited to, risks arising from prevailing market conditions and the impact of general economic industry or political conditions in the United States or globally. A list and description of these and other risk factors can be found in the Company's most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which can be reviewed at www.sec.gov. These forward-looking statements speak only as of the date of this release and we undertake no obligation to publicly update any forward-looking statements to reflect new information, events or circumstances after the date of this release.
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SOURCE Cool Holdings, Inc.
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