Mint Mobile, the prepaid wireless brand in which Ryan Reynolds holds a minority ownership stake, has been acquired by T-Mobile in a deal worth up to $1.35 billion.
Under the pact, expected to close later this year, T-Mobile will acquire Ka’ena Corp. and its subsidiaries and brands: Mint Mobile, international wireless service Ultra Mobile and wholesaler Plum. T-Mobile said it will be able “to leverage Mint’s industry-leading digital [direct-to-consumer] marketing expertise as part of its broader portfolio to reach new customer segments and geographies.”
Following the deal’s close, Mint Mobile founders David Glickman and Rizwan Kassim will remain at T-Mobile to manage the brands, which will “generally” operate as a separate business unit. Reynolds will continue in his creative role as a spokesman for Mint, in which the actor-entrepreneur owns a roughly 25% stake.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” Reynolds said in a statement. “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.”