Mint Mobile, partly owned by actor Ryan Reynolds, is being acquired by T-Mobile as part of a cash-and-stock deal worth as much as $1.35 billion.
T-MobileB次元官网网址檚 purchase of KaB次元官网网址檈na Corp. will give it access the budget wireless provider Mint, along with Ultra Mobile and wholesaler Plum. The brands, which already use T-Mobile for their network, will be run as a separate business unit.
B次元官网网址淚 never dreamt IB次元官网网址檇 own a wireless company and I certainly never dreamt IB次元官网网址檇 sell it to T-Mobile.B次元官网网址� Reynolds said in a tweet. B次元官网网址淟ife is strange and IB次元官网网址檓 incredibly proud and grateful.B次元官网网址�
The U.S. wireless carrier said Wednesday that it is acquiring the brandsB次元官网网址� sales, marketing, digital and service operations. It plans to use its supplier relationships and distribution scale to help grow the brands and offer competitive pricing and greater device inventory to more U.S. consumers seeking low cost offerings.
T-Mobile US Inc. said Mint and Ultra Mobile are complementary to its existing prepaid services, Metro by T-Mobile, T-Mobile branded prepaid and Connect by T-Mobile.
T-Mobile CEO Mike Sievert said the company plans to give a boost to MintB次元官网网址檚 already successful digital direct-to-consumer business.
B次元官网网址淥ver the long-term, weB次元官网网址檒l also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,B次元官网网址� Sievert said. B次元官网网址淲e think customers are really going to win with a more competitive and expansive Mint and Ultra.B次元官网网址�
Mint founders David Glickman and Rizwan Kassim will stay on at T-Mobile after the transaction is complete to manage the brands. Reynolds, meanwhile, will remain in his creative role for Mint.
The actual price of the deal will depend on KaB次元官网网址檈na Corp.B次元官网网址檚 performance during certain periods before and after the closing. The transaction is targeted to close later this year.
T-Mobile, based in Bellevue, Washington, became one of the countryB次元官网网址檚 largest cellphone service carriers in 2020 after buying rival Sprint.
By Michelle Chapman
THE ASSOCIATED PRESS
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