T-Mobile to Acquire Ryan Reynolds' Mint Mobile Brand

U.S. carrier T-Mobile today announced that it plans to acquire Mint Mobile, the affordable smartphone brand that is promoted by and backed by actor Ryan Reynolds. Reynolds and T-Mobile CEO Mike Sievert teamed up for a video letting customers know about the coming acquisition.


The deal is for Ka'ena Corporation, the parent company of Mint Mobile, Ultra Mobile, and Plum, with T-Mobile paying up to $1.35 billion, split into 39 percent cash and 61 percent stock. The final purchase price will be settled later this year after the deal closes.

T-Mobile plans to continue Mint Mobile's $15 per month pricing option, which provides 4GB of high-speed 4G or 5G data along with unlimited text and talk. 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.

Mint Mobile's "industry leading" marketing expertise will be incorporated into T-Mobile's portfolio to reach new customer segments and geographies, with Reynolds staying 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.

T-Mobile's Mint Mobile acquisition will be its second major mobile purchase following its 2020 merger with Sprint.

Top Rated Comments

CapitalIdea Avatar
14 months ago

I guess Ryan is not the renegade he hyped himself up to be and will happily cash out at the first possible opportunity.
A lifetime of security for his family weighs a lot more than your judgment.
Score: 65 Votes (Like | Disagree)
antiprotest Avatar
14 months ago
Why are people surprised? He didn't do it for you. He did it only for himself. It's a business. If it makes business sense, you would sell too.
Score: 30 Votes (Like | Disagree)
surfzen21 Avatar
14 months ago
Mint Mobile uses T-Mobile's back end, so basically T-Mobile feels they can profit more from purchasing it and running it then selling it bandwidth on its network.
Score: 21 Votes (Like | Disagree)
LoveTo Avatar
14 months ago
To this day, I never believed those ads to be true. Due to Ryan Raynolds’ personality, it always seemed like it was a joke.
Score: 20 Votes (Like | Disagree)
Michael Scrip Avatar
14 months ago
First he sold his gin company... and now he sold his phone company.

Cha-ching!

???
Score: 20 Votes (Like | Disagree)
Ion-X Avatar
14 months ago
I guess Ryan is not the renegade he hyped himself up to be and will happily cash out at the first possible opportunity.
Score: 18 Votes (Like | Disagree)

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