T-Mobile made a big announcement – they’re buying Ka’ena Corporation, the parent company of Mint Mobile and Ultra Mobile. The deal is valued at $1.35 billion and will pay 39% of the cost in cash and 61% in the stock. However, the transaction will only go through if Ka’ena Corporation meets certain performance goals in the next few months. The deal is expected to be completed by the end of the year.
T-Mobile they’re taking over the sales, marketing, digital, and service departments of Mint Mobile and Ultra Mobile, as well as Plum, a wholesale wireless solutions provider. The goal is to use T-Mobile’s existing infrastructure and distribution capabilities to improve these MVNOs and make them available to more customers across the US. Don’t worry, though – Mint Mobile’s popular $15 monthly plan isn’t going anywhere! This move is sure to enhance T-Mobile’s position in the mobile industry and bring more competitive pricing options to consumers.
T-Mobile just released some news about its acquisition of Mint Mobile, and it sounds like Mint Mobile will continue to operate as a separate business unit! David Glickman and Rizwan Kassim, the founders of Mint Mobile, will be joining T-Mobile as brand managers. Ryan Reynolds, who is a part-owner of Mint Mobile, will stay on as creative director.
T-Mobile’s CEO Mike Sievert recently spoke about their acquisition of Mint Mobile and Ultra Mobile. He praised Mint Mobile for its impressive success as a direct-to-consumer business, which has proven popular with customers on T-Mobile’s 5G network. T-Mobile’s CEO Mike Sievert is excited to use their resources and expertise to help both Mint Mobile and Ultra Mobile continue to grow and succeed in the future.