The U.S. carrier T-Mobile declared of its plans to acquire the affordable smartphone company, Mint Mobile, that is promoted by and backed by actor Ryan Reynolds. Mike Sievert, the T-Mobile CEO teamed up with Ryan for a video conveying the customers know about their coming acquisition.
The deal includes T-Mobile paying $1.35 billion, split into 39 percent cash and 61 percent stocks for Ka’ena Corporation, the parent organization of Plum, Ultra Mobile and Mint Mobile respectively. As the deal progresses towards its end by the later part of the year the final price will eventually be decided.
Mint Mobile’s $15 per month package offering 4GB of high speed 4G or 5G data with unlimited calling and messages, will be retained by T-Mobile. This purchase of Mint Mobile’s service, digital, sales and marketing operations reflects its plans of using the T-Mobile supplier relationships and distribution scale to facilitate the growth of Mint Mobile.
With Ryan Reynolds staying in the creative role, Mint’s industry-leading marketing expertise will be integrated into T-Mobile portfolio in reaching new geographies and customer segments respectively.
Mike Sievert, the CEO of T-Mobile said “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.”
The well-known Hollywood actor, Ryan Renolds said, “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.”