U.S. carrier T-Mobile today disclosed its intention to acquire Mint Mobile, the budget-friendly smartphone company supported and pushed by actor Ryan Reynolds. Reynolds and Mike Sievert, CEO of T-Mobile, collaborated on a video to notify customers about the transaction.
T-Mobile will pay up to $1.35 billion for Ka’ena Corporation, the parent company of Mint Mobile, Ultra Mobile, and Plum. The payment is split as follows: 39 percent cash and 61 percent stock. The deal is for Ka’ena Corporation. After the transaction has been finalized later this year, the purchase price will be finalized at that time.
T-Mobile intends to keep offering Mint Mobile’s $15 monthly plan, which includes unlimited texts and calls and 4GB of high-speed 4G or 5G data. Mint Mobile’s sales, marketing, digital, and customer service divisions are being acquired by T-Mobile. It claims that it will benefit from T-distribution Mobile’s network and supplier connections to expand.
Reynolds will continue in his creative role while Mint Mobile’s “industry-leading” marketing know-how will be merged into T-portfolio Mobile to target new client categories and geographical areas.
Mike Sievert, CEO of T-Mobile, said, “We are excited to use our scale and owners’ economics to help supercharge it – and Ultra Mobile – into the future.” Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-leading carrier’s 5G network. “Long-term, we stand to gain from spreading the successful advertising strategy pioneered by Mint to other divisions inside T-Mobile. We believe customers will emerge as clear winners with a more robust and aggressive Mint and Ultra.”
“The news we received today only strengthens Mint Mobile’s position as the finest wireless deal for our clients. We are thrilled that T-Mobile outbid my mom Tammy Reynolds’ aggressive last-minute offer since we think the superiority of their 5G network will be a better strategic fit than my mom’s somewhat above-average mahjong abilities. I am proud of the Mint team and am looking forward to what lies ahead, “Ryan Reynolds stated.
Following its 2020 merger with Sprint, T-purchase Mobile of Mint Mobile will be its second significant mobile acquisition.
