T-Mobile Acquires Ryan Reynolds’ Mint Mobile for Over $1 Billion

T-Mobile, the second-largest wireless carrier in the US, has announced its acquisition of Ka’ena Corporation, the parent company of prepaid wireless brands Mint Mobile and Ultra Mobile, as well as wireless wholesaler Plum. The acquisition, which could be worth up to $1.35 billion, will see T-Mobile bring the brands more directly into its operations.

T-Mobile Acquires Mint Mobile

Ryan Reynolds, the face of Mint Mobile and co-owner, will remain involved in a “creative role on behalf of Mint” for multiple years. T-Mobile expects to close the deal later this year and plans to use its distribution scale to help the brands grow and offer competitive pricing and greater device inventory.

Mint and Ultra will be complementary to T-Mobile’s other prepaid options, including Metro by T-Mobile and its own Connect by T-Mobile brand. The founders of Mint and Ultra, David Glickman and Rizwan Kassim, will stay on to manage the brands. Glickman says Mint’s rate plans will not change, and the company is working to add more value to its offerings.

More Value for Customers

The acquisition will provide T-Mobile with a broader range of products and more variety to offer its customers. Additionally, according to Mike Katz, T-Mobile’s President of Marketing, Innovation and Experience, Mint and Ultra will be complementary to T-Mobile’s existing prepaid options. Furthermore, the addition of Mint and Ultra to its stable of brands will allow T-Mobile to have a proposition that works for everybody, no matter what they are looking for.

According to David Glickman, Mint’s rate plans will remain unchanged in the future, and the company has been striving to enhance its services by offering additional data or international calling without increasing prices or taking anything away. Glickman hinted at a forthcoming significant announcement within the next two months that will benefit all Mint and Ultra customers, even before the T-Mobile deal is finalized.

Ryan Reynolds x T-Mobile

Ryan Reynolds will also continue his involvement with Mint Mobile in a creative role, and the deal is expected to close later this year. While the actual sales price will be based upon Ka’ena’s performance during certain periods before and after the closing, T-Mobile plans to use its supplier relationships and distribution scale to help the brands grow and offer competitive pricing and greater device inventory to consumers.


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SOURCE: CNET

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