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.

In addition to obtaining this business unit, Cogent would also be entitled to receive some additional services from T-Mobile for a fee. The transaction will see Cogent acquire T-Mobile’s fiber business as well as certain liabilities. The deal is expected to go through a direct subsidiary of Cogent.

Once the pre-tax charge, as well as the acquisition fee, are taken care of, a separate agreement between the parties is expected to come into effect, whereby T-Mobile will pay $700 million to Cogent for the provision of certain services, expected to be paid in installments.

According to Cogent, the addition of the wireline business will not affect any change in the company’s existing dividend plan and no dilution to existing stockholders’ shares is expected to occur.

The post T-Mobile to Sell Wireline Business to Cogent in Billion Dollar Deal appeared first on theprimarymarket.com.

The $350 million will be split among the customers that had their data stolen and lawyers. T-Mobile will also set aside a sum of $150 million to improve its “data security and related technology.”

Reportedly, the breach that was the subject of the lawsuit took place in early 2021. The T-Mobile customers got their data stolen and put on sale at several criminal forums. According to the operator’s estimations, 76.6 million U.S. residents were affected in some way. Around one million had their accounts and PINs exposed in full.

The court now needs to accept the settlement, which aims to “resolve substantially all of the claims brought by the Company’s current, former and prospective customers who were impacted by the 2021 cyberattack.”

After the settlement gets accepted, T-Mobile will notify affected users that they have the right to compensation. The lawyers will take a significant chunk of $350 million, and the rest will be split among the customers who make a claim. This is why you shouldn’t get your hopes high for a big payday, although some money is better than no money at all.

The post T-Mobile Settles 2021 Data Breach Suit for $350 Million 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.

In addition to obtaining this business unit, Cogent would also be entitled to receive some additional services from T-Mobile for a fee. The transaction will see Cogent acquire T-Mobile’s fiber business as well as certain liabilities. The deal is expected to go through a direct subsidiary of Cogent.

Once the pre-tax charge, as well as the acquisition fee, are taken care of, a separate agreement between the parties is expected to come into effect, whereby T-Mobile will pay $700 million to Cogent for the provision of certain services, expected to be paid in installments.

According to Cogent, the addition of the wireline business will not affect any change in the company’s existing dividend plan and no dilution to existing stockholders’ shares is expected to occur.

The post T-Mobile to Sell Wireline Business to Cogent in Billion Dollar Deal appeared first on theprimarymarket.com.

The $350 million will be split among the customers that had their data stolen and lawyers. T-Mobile will also set aside a sum of $150 million to improve its “data security and related technology.”

Reportedly, the breach that was the subject of the lawsuit took place in early 2021. The T-Mobile customers got their data stolen and put on sale at several criminal forums. According to the operator’s estimations, 76.6 million U.S. residents were affected in some way. Around one million had their accounts and PINs exposed in full.

The court now needs to accept the settlement, which aims to “resolve substantially all of the claims brought by the Company’s current, former and prospective customers who were impacted by the 2021 cyberattack.”

After the settlement gets accepted, T-Mobile will notify affected users that they have the right to compensation. The lawyers will take a significant chunk of $350 million, and the rest will be split among the customers who make a claim. This is why you shouldn’t get your hopes high for a big payday, although some money is better than no money at all.

The post T-Mobile Settles 2021 Data Breach Suit for $350 Million appeared first on theprimarymarket.com.