T-Mobile Acquires Mint, Partially Owned By Ryan Reynolds

In a cash-and-stock deal worth up to $1.35 billion, T-Mobile is acquiring Mint Mobile, a company that actor Ryan Reynolds partially owns.

Mint, Ultra Mobile, and wholesaler Plum will all be accessible to T-Mobile thanks to its acquisition of Ka’ena Corp by T-Mobile.

The brands will be managed as a separate business unit even though they already use T-Mobile’s network.

“I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile,” Reynolds said in a tweet. “Life is strange and I’m incredibly proud and grateful.”

The sales, marketing, digital, and service activities of the brands are being acquired, according to the US telecom carrier.

It intends to use its distribution network and supplier connections to expand the brands, provide additional devices at cheap prices, and appeal to American customers looking for low-cost options.

T-Mobile US said that Mint and Ultra Mobile are compatible with its current prepaid offerings, including Connect by T-Mobile, Metro by T-Mobile, and T-Mobile branded prepaid.

T-CEO, Mobile’s Mike Sievert, stated that the company intends to support Mint’s already prosperous digital direct-to-consumer business.

“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,” Mr. Sievert said.

“We think customers are going to win with a more competitive and expansive Mint and Ultra.”

After the acquisition is finished, David Glickman and Rizwan Kassim, the founders of Mint, will continue to work for T-Mobile to oversee the brands. For Mint, Reynolds will continue to play a creative role.

The performance of Ka’ena Corp in various time frames before to and following the closing will determine the actual price of the transaction. Later this year is when the deal is expected to close.

After acquiring rival Sprint in 2020, Bellevue, Washington-based T-Mobile rose to prominence as one of the nation’s major providers of mobile phone service.