by 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 informing customers of the upcoming acquisition.
The deal involves Ka’ena Corporation, the parent company of Mint Mobile, Ultra Mobile and Plum, with T-Mobile paying up to $1.35 billion, split into 39% cash and 61% stock. The final purchase price will be settled later this year after the deal closes.
T-Mobile plans to continue Mint Mobile’s $15 per 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 use T-Mobile’s supplier relationships and distribution scale to help Mint Mobile grow.
Mint Mobile’s “industry-leading” marketing expertise will be integrated 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 offer customers the Un-carrier’s industry-leading 5G network, and we’re now excited to use our scale and owner financials to help supercharge it – and of Ultra Mobile – in the future,” said Mike Sievert, CEO of T-Mobile. “Longer term, we’ll also benefit from implementing the marketing formula that Mint has become famous for across more parts of T-Mobile. We think customers will really win with a more competitive and scalable Mint and Ultra.”
“Mint Mobile is the best deal in wireless and today’s news only strengthens our ability to deliver to our customers. We are so happy that T-Mobile won an aggressive last minute bid from my mom Tammy Reynolds as we believe in excellence Their 5G network will deliver a better strategic fit than my mom’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 will be its second major mobile purchase following its 2020 merger with Sprint.
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