T-Mobile Acquires Mint Mobile And Ultra Mobile
The popular MVNO owned by Ryan Reynolds is now joining the T-Mobile family.
As shared today via the T-Mobile Newsroom, Mint Mobile and Ultra Mobile are being purchased by T-Mobile for a cost of “up to” $1.35 billion.
T-Mobile is acquiring Mint and Ultra’s sales, marketing, digital, and service operations. The company “plans to use its supplier relationships and distribution scale to help the brands to grow and offer competitive pricing and greater device inventory to more U.S. consumers seeking value offerings.”
As part of the deal, the founders of Mint Mobile, David Glickman and Rizwan Kassim, will stick around to manage the acquired brands. The companies will remain “a separate business unit” and operate mostly independently of T-Mobile.
Ryan Reynolds, celebrity owner and the face of Mint, will remain in a creative role for Mint.
“Our brands have thrived on the T-Mobile network, and we are thrilled that this agreement will take them even further, bringing the many benefits of 5G to even more Americans. This transaction validates our meteoric success and will unite two proven industry innovators committed to doing things differently in the wireless industry.”David Glickman, founder and CEO of Mint, Ultra and Plum.
The price for these companies is “up to” $1.35 billion spread across cash and stock. The actual end price will vary depending on the performance of the purchased brands moving forward up until, and after, the closing date, which is expected to be later this year.
T-Mobile CEO Mike Sievert says they are excited to “supercharge” Mint and Ultra, and have plans to incorporate Mint’s unique marketing formula across the entire T-Mobile brand in the future.
Mint’s founders David Glickman and Rizwan Kassim will remain onboard at T-Mobile to manage the brands, which will generally operate as a separate business unit. Owner Ryan Reynolds will continue on in his creative role on behalf of Mint.