T-Mobile to Buy Low-Cost Carrier Mint Mobile
T-Mobile announced on Wednesday that it planned to acquire Ka’ena Corporation and its subsidiaries, including Mint Mobile, a cost-friendly, prepaid wireless brand that is partly owned by the actor Ryan Reynolds, in a deal for up to $1.35 billion.
Ultra Mobile, a wireless service that offers international calling, and Plum, a wireless wholesaler, are also part of the deal.
The sale is expected to become final later this year.
Mint Mobile started in 2016 and gained popularity in recent years among consumers seeking cheaper alternatives to expensive mobile plans. The company offers premium wireless plans for as little as $15 a month and an unlimited plan for $30 a month.
“Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers,” Mike Sievert, the chief executive of T-Mobile, said in a statement.