T-Mobile US Inc. has completed its previously announced acquisition of Ka’ena Corporation. It includes direct-to-consumer prepaid wireless brand Mint Mobile, internationally focused brand Ultra Mobile, and wholesale wireless solutions provider.
Telecompetitor previously reported that T-Mobile would pay a maximum of $1.35 billion in a combination of 39% cash and 61% stock. The exact price was to be determined by Ka’ena’s performance during specified periods before and after the deal closed.
Mint founders David Glickman and Rizwan Kassim, together with their teams, are joining T-Mobile, where the brands will continue to operate autonomously. However, they are expected to be closely aligned to the broader T-Mobile brand and business, similar to T-Mobile’s acquisition of MetroPCS in 2013.
T-Mobile will soon be delivering upgraded perks for current and future Mint and Ultra customers. Mint Mobile will continue to have a $15/month plan available for new and existing customers. Additionally, Mint plans to continue its new customer offer of three months of unlimited premium wireless for $15 a month through the end of the year.
Mint and Ultra customers also soon will be able to see sketchy calls flagged as “scam likely” on their phone’s ID. Free roaming in Canada for Mint Mobile customers, and enhanced data as part of the roaming option for Mexico for Ultra customers will be offered in the coming weeks.
When the deal was first announced, the companies created a video featuring actor and part-owner of Mint Ryan Reynolds.
In the video, a comment from Reynolds hinted that the flippant marketing attitude shared by Mint and T-Mobile would continue. T-Mobile CEO Mike Sievert welcomed Mint to the T-Mobile family, to which Reynolds said, “I wouldn’t call it a family. A family is a place for misdirected hopes and dreams. This is much better.”
In the video, Reynolds also noted that T-Mobile and Mint Mobile are long-time partners and that Mint Mobile runs on the T-Mobile network.
In a prepared statement yesterday, Mike Katz, T-Mobile president of marketing, strategy and products, said “This combination is a win-win all around — a perfect pairing of highly complementary brands coming together on our industry-best 5G network to continue shaking things up for the benefit of customers.”
“We are excited to maintain the unique style and entrepreneurial spirit that make Mint and Ultra truly special, while also finding ways to supercharge their growth and leverage some of the secrets of that success into other areas of our business.”
FAQs
T-Mobile US Inc. has completed its previously announced acquisition of Ka'ena Corporation. It includes direct-to-consumer prepaid wireless brand Mint Mobile, internationally focused brand Ultra Mobile, and wholesale wireless solutions provider.
Is Mint Mobile shutting down? ›
Mint is officially now part of T-Mobile's assortment of brands.
What happens now that T-Mobile bought Mint? ›
The deal secures long-term access to T-Mobile's network for Mint and Ultra while allowing the carriers to tap into T-Mobile's resources and relationships. In return, T-Mobile gains insights from Mint's success with direct-to-consumer marketing that could be applied to other segments of its business.
What will happen to Mint customers? ›
Customers will enjoy: $15 Commitmint: Starting now, a commitmint that Mint Mobile will continue to have a $15/month plan available for new and existing customers. [1] In addition, Mint is committing to continuing its new customer offer of 3 months of Unlimited Premium Wireless for $15/mo through the end of the year.
Is Ryan Reynolds still owner of Mint Mobile? ›
Ryan Reynolds Sold Mint Mobile For $1.35 Billion — Now He's Invested In The Apparel Company For Travis Kelce's Podcast. Ryan Reynolds isn't just a charismatic actor known for his quick wit and blockbuster roles — he's also forged a reputation as a shrewd business owner.
Why is Mint getting shut down? ›
In less than two weeks, the budgeting app Mint — which once had 3.6 million active users, including me — will shut down forever. According to its parent company, Intuit, Mint wasn't making enough money, so Intuit began the app's closure in January.
Why is Mint going away? ›
Mint recently announced: “Reimagining Mint as part of Intuit Credit Karma will expand our capabilities,” which is them trying to put a positive spin on the fact that they're shutting down their budgeting app capabilities—and Mint budgeters won't be able to access their budgeting accounts or continue budgeting starting ...
Who is the majority owner of Mint Mobile? ›
Mint Mobile, LLC is a mobile virtual network operator owned by T-Mobile US that offers prepaid mobile phone plans with physical SIM cards or eSIMs. Costa Mesa, California, U.S.
Why is Mint Mobile being sold? ›
Mint founders David Glickman and Rizwan Kassim are joining the T-Mobile team to help lead the brands, while Reynolds will continue to serve as Mint's ambassador. The deal gives T-Mobile a chance to dip back into the prepaid phone market, an opportunity it lost after it sold Boost Mobile.
Is Mint Mobile slower than T-Mobile? ›
As far as speed goes, T-Mobile users get preferred access to the network, so Mint Mobile users may encounter slower speeds at times. Both services allow for WiFi calling and mobile hotspots capable of 4G LTE speeds.
Hollywood actor Ryan Reynolds has more than doubled his net worth to $350 million after last week's sale of Mint Mobile.
How rich is Ryan Reynolds? ›
So, what is Ryan Reynolds' net worth in total? According to Celebrity Net Worth, that would be $350 million (which is around £271 million), which is a whopping $200 million MORE than the amount we last reported back in 2022.
What percentage of Mint Mobile does Ryan? ›
$337.5 million. That's roughly how much Reynolds earned from the sale. The Deadpool star owns roughly 25% of Mint Mobile, Bloomberg previously reported, citing an unnamed source.
Is Mint disappearing? ›
The Mint budgeting app officially shut down on March 23, 2024, and users can no longer access their data on the app.
Is intuit shutting down Mint? ›
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Mint, a budgeting app acquired by Intuit in 2009, is shutting down as of Saturday, March 23, 2024.
Will I lose everything with Mint Mobile? ›
Basically, all that stuff is stored on the phone itself or in the Cloud as opposed to a SIM card, so you won't lose it. Now, if you're also switching phones, you need to make sure you've backed everything up digitally first, so you can transfer everything to your new phone with no problems.
