Ryan Reynolds has achieved a lot of success with the sale of his budget wireless provider Mint Mobile to T-Mobile US Inc. for over a billion dollars.
On Tuesday, T-Mobile announced that it has entered into a definitive agreement to acquire Ka ena Corporation and its subsidiaries and brands, Mint Mobile and Ultra Mobile, for $1.35 billion, which includes 39% cash and 61% of the stock. The deal shows that T-Mobile is looking to boost its prepaid offerings.
The actual price to be paid by T-Mobile will be based on Ka ena's performance during certain periods before and after the closing, T-Mobile said in a news release. T-Mobile, the second-largest US mobile service provider, has been in talks with Mint for many months.
In an interview, Mint Mobile co-founder David Glickman said Reynolds will continue to make commercial appearances on the company's behalf, because he has an undisclosed but significant stake in the company.
As part of the acquisition agreement, T-Mobile will also own the brands sales, marketing, digital, and service operations, and plans to use its supplier relationships and distribution scale to help brands grow and offer more device inventory to more U.S. consumers seeking value offerings. The Mint and Ultra brands are complementary to the company's current prepaid service offerings Metro by T-Mobile, T-Mobile branded prepaid, and Connect by T-Mobile.
Mint has built an incredibly successful digital direct-to- consumer business that continues to deliver for customers on the Un-carrier's leading 5 G network, and now we are excited to use our scale and owners economics to supercharge it and Ultra Mobile into the future, said Mike Sievert, CEO of T-Mobile. We'll benefit from the marketing formula Mint, which has become famous for being used in more parts of T-Mobile over the long-term. We think customers are going to win with a more competitive and expansive Mint and Ultra. David Glickman, the founder and CEO of Mint, Ultra and Plum, said the agreement will bring the many benefits of 5 G to even more Americans. This transaction will unite two proven industry innovators who are committed to doing things differently in the wireless industry. Ryan Reynolds is a Canadian actor who has gained a lot of recognition for his performances in both comedy and action films. He was born on October 23, 1976 in Vancouver, Canada. Reynolds started his career in the mid- 1990s with appearances in Canadian TV shows and films before transitioning to Hollywood with roles in films like National Lampoon s Van Wilder and Blade : Trinity. Reynolds is also a successful entrepreneur, with his ownership of Mint Mobile being just one of his ventures. Reynolds sold his Aviation American Gin brand as part of a $610 million deal in 2020 to Diageo, the world's largest spirits producer.
He is known for his philanthropic efforts, including his support for Michael J.