As reported this week, T-Mobile will acquire Ka’ena Corporation, the private parent company of Mint Mobile (Ryan Reynolds’ company) for a $1.35 billion deal. This value could be modified according to the performance of the company. More details here!
This week ryan reynolds made a big sale. The popular actor and businessman, along with other owners of Mint Mobile (a mobile virtual network operator in the United States), sold his company to T Mobile in a $1.35 billion deal in a combination of 39% cash and 61% stock.
According to communicated T Mobilethis publicly traded US telecommunications company entered into an agreement to acquire Ka’ena Corporation and its subsidiaries: Mint Mobilea US direct-to-consumer (D2C) prepaid mobile service brand; ultra mobilea unique mobile service that offers international calling options to communities across the country, and the wholesale company plum.
Although the maximum price for the purchase is 1,350 million dollars, that value may vary in the end, since it will be based on the performance of Ka’ena “during certain periods before and after closing” of the transaction, which would be at the end of this year.
Ryan Reynolds, who bought a minority stake in Mint Mobile in 2019, it will continue with its “creative function on behalf of Mint“. The founders of the company, David Glickman and Rizwan Kassim, will also remain on board T Mobile to manage the brands, which will generally operate as a separate business unit.
About the acquisition, Mike Sievertexecutive director of T Mobilesaid: “Mint has built an incredibly successful direct-to-consumer digital services company that continues to serve customers on the Un-carrier’s leading 5G network, and now we’re excited to use our scale and owner economics to optimize it, and Ultra Mobile, in the future. In the long run, we will also benefit from applying the marketing formula by which Mint has become famous in more parts of T Mobile. We believe that customers will really benefit from brands like Mint and Ultra more competitive and extensive.
On the other hand, glickmanfounder and CEO of Mint, Ultra and Plum, assured: “Our brands have thrived on the web of T Mobile and we’re thrilled that this deal will take them further by bringing the many benefits of 5G to even more Americans. This transaction validates our extraordinary success and will unite two established industry innovators committed to doing things differently in the mobile industry.”
from the side of Ryan Reynolds, who was excited Twitterwrote that he had never dreamed of owning a wireless company, let alone selling it to T Mobile. “Life is strange and I am incredibly proud and gratefulhe tweeted. Of course Hugh Jackman congratulated him and said: “I have now completed my unique yearly kindness to you.” The Deadpool actor will pocket nearly $500 million for his role.
Also, reynolds added in the statement:Mint Mobile it’s the best deal in wireless and today’s news only improves our ability to deliver for our customers. We are very happy that T Mobile got over an aggressive last-minute offer from my mother tammy reynolds, as we believe the excellence of its 5G network will provide a better strategic fit than my mother’s slightly above-average mahjong skills. I’m so proud of the whole team at Mint and so excited for everything to come“.
As reported from T Mobile, Through this agreement, the brands involved will be able to continue making exclusive use of the Un-carrier’s 5G network. T Mobile will acquire the companies’ sales, merchandising, digital, and service operations and plans to leverage their supplier relationships and distribution scale to help grow the brands and offer competitive pricing and increased device inventory to more U.S. consumers. USA
The Un-carrier will also be able to take advantage of the industry-leading D2C digital marketing experience of Mint as part of its broad product portfolio to reach new customer segments and geographic areas. In addition, the statement also ensures that the brands Mint and Ultra will be complementary to the company’s current prepaid service offerings such as Metro by T-Mobilethe prepaid service of T Mobile and Connect by T-Mobile.