T-Mobile is reportedly acquiring Ka’ena Corporation, the company behind MVNO carriers Mint Mobile and Ultra Mobile, in a $1.35 billion deal. The deal includes a 39% cash payment and a 61% stake in his stake. The transaction is subject to Kaena Corporation’s performance in the coming months and other contractual commitments and is expected to close later this year.
T-Mobile will acquire the sales, marketing, digital and services divisions of Mint and Ultra Mobile, as well as wholesale wireless solutions provider Plum. The plan is to strengthen both his MVNOs through T-Mobile’s established supplier and distribution scale, and help expand its competitively priced segment to more U.S. consumers. Mint’s popular $15/month plan remains.
Mint Mobile will continue to operate as a separate business unit, according to a press release provided by T-Mobile. Founders David Glickman and Rizwan Kassim will join his T-Mobile as managers of the brand, while co-owner Ryan Reynolds will maintain his role as creative director of his Mint Mobile.
Mint has built an incredibly successful digital D2C business and continues to serve customers on Un-carrier’s leading 5G network. Today, we look forward to leveraging our size and ownership economies to power it and Ultra Mobile well into the future. – Mike Siebert, CEO of T-Mobile
Here is a video by T-Mobile CEO Mike Sievert and Mint Mobile owner Ryan Reynolds sharing details of the deal.
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