T-Mobile to Buy Ryan Reynolds-Backed Mint Mobile for Up to $1.35 Billion | Engadget

Just under three and a half years after Ryan Reynolds bought Mint Mobile and became the provider’s public face, the dead pool Star is ready to make a windfall on his investment. T-Mobile has announced an agreement to buy Mint Mobile’s parent company, Ka’ena, for up to $1.35 billion in cash and stock.

The final price will depend on Ka’ena’s performance over a certain period before and after the deal closes, which is expected to happen later this year. Ka’ena also owns Ultra Mobile, a provider focused on international calls, and wholesaler Plum.

Reynolds is believed to own between 20 and 25 percent of the Mint, according to a 2021 report from the new york post office. It will continue in his creative role as spokesperson for the Mint. Mint was founded in 2015 and spun off from Ultra at the end of 2019.

Mint, which has worked with T-Mobile since its early days as a mobile virtual network operator, succeeded thanks to its charismatic host and budget-conscious pricing. T-Mobile CEO Mike Sievert confirmed in a YouTube video on the news that Mint will keep its price of $15 per month.

T-Mobile said in a statement that Mint and Ultra will complement its existing prepaid services. Mint founders David Glickman and Rizwan Kassim will continue to run the brands, which T-Mobile says will generally operate as a separate business unit. Meanwhile, T-Mobile hopes to tap into the marketing savvy of the Mint and its famous co-owner.

“Mint has built an incredibly successful direct-to-consumer digital business that continues to serve customers on Un-carrier’s leading 5G network and now we’re excited to use our scale and owner economics to help power it, and Ultra Mobile. . Looking forward,” Sievert said. “In the long run, we’ll also benefit from applying the marketing formula Mint has become famous for in more parts of T-Mobile.”

“Mint Mobile is the best deal in mobile and today’s news only enhances our ability to serve our customers,” Reynolds said. the excellence of its 5G network will provide a better strategic fit than my mother’s slightly above average mahjong skills.”

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James D. Brown
James D. Brown
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