According to an announcement made earlier this week, T-Mobile US has acquired Mint Mobile’s parent company Ka’ena Corp in a deal that is valued at $1.35 billion. The acquisition of Ka’ena Corp, which also has prepaid mobile network brand Ultra Mobile and wholesale wireless provider Plum under its wing, will come in 39 percent cash and 61 percent stock combination.

“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra,” said Mike Sievert, CEO of T-Mobile US.

With the acquisition of Mint Mobile, T-Mobile US is looking to expand its prepaid offering and reach lower-income customers. Mint Mobile offered one of the cheapest mobile plans in the nation in recent years and has seen its customer base double in number in the past four years.

Reynolds, who is believed to have owned around 25 percent of Mint Mobile, will continue being associated with the operator. He will keep his creative role within the company and continue appearing in Mint’s commercials.

The post T-Mobile US Acquires Ryan Reynolds’ Mint Mobile for $1.35 Billion appeared first on theprimarymarket.com.

According to an announcement made earlier this week, T-Mobile US has acquired Mint Mobile’s parent company Ka’ena Corp in a deal that is valued at $1.35 billion. The acquisition of Ka’ena Corp, which also has prepaid mobile network brand Ultra Mobile and wholesale wireless provider Plum under its wing, will come in 39 percent cash and 61 percent stock combination.

“Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra,” said Mike Sievert, CEO of T-Mobile US.

With the acquisition of Mint Mobile, T-Mobile US is looking to expand its prepaid offering and reach lower-income customers. Mint Mobile offered one of the cheapest mobile plans in the nation in recent years and has seen its customer base double in number in the past four years.

Reynolds, who is believed to have owned around 25 percent of Mint Mobile, will continue being associated with the operator. He will keep his creative role within the company and continue appearing in Mint’s commercials.

The post T-Mobile US Acquires Ryan Reynolds’ Mint Mobile for $1.35 Billion appeared first on theprimarymarket.com.