American operator T-Mobile announced today that it plans to acquire Mint Mobile, the affordable smartphone brand promoted and backed by actor Ryan Reynolds. Reynolds and T-Mobile CEO Mike Sievert have teamed up for a video updating customers on the upcoming acquisition.

The deal involves Ka’ena Corporation, the parent company of Mint Mobile, Ultra Mobile and Plum, with T-Mobile paying up to $1.35 billion, split 39% in cash and 61% in stock. The final purchase price will be set later this year after the deal closes.

T-Mobile plans to keep Mint Mobile’s $15 per month pricing option, which provides 4GB of high-speed 4G or 5G data plus unlimited texting and calling. T-Mobile is buying Mint Mobile’s sales, marketing, digital and service operations, and says it will use T-Mobile’s vendor relationships and distribution scale to help Mint Mobile grow.

Mint Mobile’s “industry-leading” marketing expertise will be integrated into T-Mobile’s portfolio to reach new customer segments and geographies, with Reynolds remaining in his creative role.

“Mint has built an incredibly successful direct-to-consumer digital business that continues to deliver to customers on the Un-carrier’s core 5G network and now we’re excited to use our scale and owner economy to help supercharge it – and Ultra Mobile – into the future,” said Mike Sievert, CEO of T-Mobile. “In the long run, we will also benefit from applying the marketing formula that Mint has become famous for in more parts of T- Mobile. We think customers will really win with a more competitive and expansive Mint and Ultra.”

“Mint Mobile is the best wireless deal out there and today’s news only improves our ability to deliver to our customers. We’re so glad T-Mobile beat out an aggressive last minute offer from my mom Tammy Reynolds because we believe in excellence their 5G will provide a better strategic fit than my mother’s slightly above average mahjong skills I’m so proud of the entire Mint team and so excited for what is going to happen,” Ryan Reynolds said.

T-Mobile’s acquisition of Mint Mobile will be its second major mobile purchase after its 2020 merger with Sprint.

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