Ryan Reynolds’ Mint Mobile wireless brand has been acquired by T-Mobile for $1.35 billion, Variety reported Wednesday.
Under the terms of the sale agreement, T-Mobile will acquire Mint Mobile’s parent, Ka’ena Corp, and all subsidiary brands, Variety reported. T-Mobile plans “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.”
Reynolds holds a minority stake in Mint Mobile’s ownership, at roughly 25%, according to Bloomberg. The company was founded by David Glickman andRizwan Kassim, who will remain with T-Mobile to manage the brands, Variety noted. Reynolds will also stay on as Mint Mobile’s spokesman.
Reynolds shared the news in a hysterical video with T-Mobile CEO Mike Sievert that I highly recommend everyone watch.
I only want the best for Mint Mobile customers. Think I’ve found it. pic.twitter.com/nSNmGKLmN2
— Ryan Reynolds (@VancityReynolds) March 15, 2023
“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 shared by Variety. “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.”
T-Mobile will pay a maximum of $1.35 billion in a combination of 39% cash and 61% stock to acquire Ka’ena. The final price will be determined by Ka’ena’s performance during periods prior to and post-closing. (RELATED: We Somehow Missed Chad ‘Ochocinco’ Johnson Giving The Most Amazing Financial Advice)
The company will maintain Mint Mobile’s current pricing options starting at $15 per month, Variety noted.