U.S.-based T-Mobile has announced that it will acquire Mint Mobile, the budget-priced cellular carrier that has become widely known as the cell service partially owned by actor Ryan Reynolds. Reynolds and T-Mobile CEO Mike Sievert teamed up for a video letting customers know about the coming acquisition. We’ll let you decide which one is Reynolds.
T-Mobile is paying up to $1.35 billion, split into 39% cash and 61% stock for Ka’ena Corporation, the parent company of Mint Mobile, Ultra Mobile, and Plum. The final purchase price will be settled later this year after the deal closes. T-Mobile is purchasing Mint Mobile’s sales, marketing, digital, and service operations, and says that it will use the T-Mobile supplier relationships and distribution scale to help Mint Mobile grow.
T-Mobile says it will continue offering Mint Mobile’s $15 per month plan, which offers 4G or 5G data with unlimited talk and text.
Ryan Reynolds will stay on in his creative role.
“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier’s leading 5G network and now we are excited to use our scale and owners’ economics to help supercharge it – and Ultra Mobile – into the future,” said Mike Sievert, CEO of T-Mobile. “Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra.”
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers. We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly-above-average mahjong skills. I am so proud of the entire Mint team and so excited for what’s to come,” said Ryan Reynolds.
The Mint Mobile acquisition will be T-Mobile’s first major mobile purchase since its 2020 merger with fellow major carrier Sprint.