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-Mobile害羞草研究所檚 purchase of Ka害羞草研究所檈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.
害羞草研究所淚 never dreamt I害羞草研究所檇 own a wireless company and I certainly never dreamt I害羞草研究所檇 sell it to T-Mobile.害羞草研究所� Reynolds said in a tweet. 害羞草研究所淟ife is strange and I害羞草研究所檓 incredibly proud and grateful.害羞草研究所�
The U.S. wireless carrier said Wednesday that it is acquiring the brands害羞草研究所� 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 Mint害羞草研究所檚 already successful digital direct-to-consumer business.
害羞草研究所淥ver the long-term, we害羞草研究所檒l also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile,害羞草研究所� Sievert said. 害羞草研究所淲e think customers are really going to win with a more competitive and expansive Mint and Ultra.害羞草研究所�
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 Ka害羞草研究所檈na Corp.害羞草研究所檚 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 country害羞草研究所檚 largest cellphone service carriers in 2020 after buying rival Sprint.
By Michelle Chapman
THE ASSOCIATED PRESS
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