Assurant Inc. has acquired MMI-CPR LLC, which operates as Cell Phone Repair, one of the largest global franchisors of mobile device repair stores with more than 700 locations. The CPR franchise provides a wide variety of same-day electronic device repairs and offers consumers the ability to sell and buy devices at their local CPR store.

Assurant acquired CPR from a subsidiary of Independence-based investment firm Merrymeeting Group and a third party.

Financial terms of the transaction were not disclosed.

“Acquiring CPR is a part of our ongoing efforts to improve the customer experience by expanding options for service and support where, when and how consumers want,” said Manny Becerra, president for Global Connected Living at Assurant, in a statement. “Assurant also is committed to helping CPR franchisees diversify their businesses through new products and services.”

CPR will continue to operate as a standalone company with the ability to innovate to meet consumer needs.

Merrymeeting Group Founder John Davies added: “Franchisees will gain the benefits from Assurant’s financial strength and expertise in connected devices to help differentiate and grow their businesses, while providing a superior customer experience. Plus, as an innovative, fast-growing mobile support and protection provider, Assurant is well-positioned to help continuously drive new traffic to CPR stores.”