US carrier T-Mobile today announced plans to acquire Mint Mobile, the affordable smartphone brand promoted and endorsed by actor Ryan Reynolds. Reynolds and T-Mobile CEO Mike Sievert teamed up for a video announcing the upcoming acquisition to customers.
The deal is for Ka’ena Corporation, the parent company of Mint Mobile, Ultra Mobile and Plum, for which T-Mobile will pay up to $1.35 billion, split 39 percent in cash and 61 percent in stock. : The final purchase price will be settled later this year after the transaction closes.
T-Mobile plans to continue Mint Mobile’s $15-a-month pricing option, which provides 4GB of high-speed 4G or 5G data along with unlimited text and talk. T-Mobile is buying Mint Mobile’s sales, marketing, digital and service operations and says it will leverage T-Mobile’s supplier relationships and distribution scale to help Mint Mobile grow.
Mint Mobile’s “industry-leading” marketing expertise will be incorporated into T-Mobile’s portfolio to reach new customer segments and geographies, with Reynolds remaining in his creative role.
“Mint has built an incredibly successful direct-to-consumer digital business that continues to deliver customers on the Un-carrier’s leading 5G network, and now we’re excited to leverage our scale and economies of ownership to help fuel it, and Ultra Mobile the into the future,” said T-Mobile CEO Mike Sievert. “In the long term, we will also benefit from applying the marketing formula that Mint has become known for to more parts of T-Mobile. We think customers will really win with the more competitive and expansive Mint and Ultra.”
“Mint Mobile is the ultimate wireless deal, and today’s news only increases our ability to deliver for our customers. We are so happy that T-Mobile won over my mom Tammy Reynolds’ aggressive last minute because we believe in their 5G excellence. grid would provide a better strategic fit than my mother’s slightly above-average mahjong skills. I’m so proud of the entire Mint team and so excited for what’s to come,” said Ryan Reynolds.
T-Mobile’s acquisition of Mint Mobile would be its second major mobile purchase since its 2020 merger with Sprint.
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