T-Mobile Acquires Mint, Partly Owned by Ryan Reynolds
Written by Reananda Hidayat PermonoCompleted Master of Science - MS, Petroleum Geology from Curtin University, Perth, Australia.
The T-Mobile company acquired Mint Mobile, partly owned by Canadian actor Ryan Reynolds, in a cash-and-stock deal worth $1.35 billion.
Its purchase of Ka’ena Corp. will give T-Mobile access to the budget wireless provider Mint and wholesaler Plum and Ultra Mobile.
The brands will run as separate business units.
Ryan Reynolds said in a tweet that he never dreamt of owning a wireless company and selling it to T-Mobile.
He also said he is incredibly proud and grateful.
The US wireless company explained that it’s acquiring the brands’ marketing, sales, digital and service operations.
Later, it will use its supplier relationships to help grow the brands and give competitive pricing to more US consumers.
T-Mobile US Inc. explained Ultra Mobile and Mint would complete its existing prepaid services, Metro and Connect by T-Mobile, and T-Mobile branded prepaid.
Mike Sievert, T-Mobile CEO, said the company plans to boost Mint for digital direct-to-consumer business.
He thinks customers will enjoy the more competitive and expansive Mint and Ultra.
David Glickman and Rizwan Kassim, Mint founders, will stay at T-Mobile to manage the brands.
Meanwhile, Ryan Reynolds will remain in his creative role for Mint.
After buying rival Sprint, T-Mobile became one of the largest cellphone service carriers in the United States.