Cool Holdings to Buy Simply Mac from GameStop As It Executes Expansion Plans
COOL HOLDINGS INC COMMON (AWSM)
Company Research
Source: PR Newswire
MIAMI, May 9, 2019 /PRNewswire/ -- Cool Holdings, Inc. (NASDAQ: AWSM) ("Cool Holdings" or the "Company") today announced that it has entered into a definitive agreement to purchase all of the outstanding capital stock of Simply Mac, Inc. ("Simply Mac") from its parent company GameStop Corp. (NYSE: GME) ("GameStop"). Simply Mac, based in Salt Lake City, Utah, is the largest Apple Premier Partner in the United States, and operates 43 stores in 18 states. Consideration for the purchase will be based in part on the value of inventories and other working capital at the date of closing. The transaction is expected to close by early August, 2019."This transaction enables us to advance our growth strategy in the Americas as we move aggressively to reach our goal of 200 stores," said Mauricio Diaz, CEO and executive chairman of Cool Holdings' board of directors. "Upon closing, we will have 59 stores with 46 in the U.S., 6 in Argentina and 7 in the Dominican Republic, and a clear focus on No
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