The stock jumped nearly 20% in pre-market trading to $2.77.
Miami-based Cool Holdings currently operates its own chain of boutique Apple stores called OneClick. The acquisition gives the company 59 total stores and is part of a larger push to get to 200, CEO Mauricio Diaz said in a statement.
“We believe our direct relationships with third-party accessory manufacturers can help strengthen Simply Mac's product offerings and gross margins,” Diaz said. “Simply Mac's focus on Apple authorized service and smaller market locations could help us further expand our U.S. presence and improve our existing store efficiencies and product-services mix.”
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