T-Mobile to Acquire Mint Mobile in Potential $1.35B Deal
T-Mobile today announced that it has entered into a definitive agreement to acquire Ka’ena Corporation and its subsidiaries and brands. That includes Mint Mobile, a direct-to-consumer (D2C) prepaid wireless brand in the U.S.; Ultra Mobile, a unique wireless service offering international calling options to communities across the country; and wholesaler Plum.
With this deal, the brands’ exclusive use of the Un-carrier’s largest, fastest and most reliable 5G network will continue. T-Mobile is acquiring the brands’ sales, marketing, digital, and service operations, and plans to use its supplier relationships and distribution scale to help the brands to grow and offer competitive pricing and greater device inventory to more U.S. consumers seeking value offerings. The Un-carrier will also be able to leverage Mint’s industry-leading digital D2C marketing expertise as part of its broader portfolio to reach new customer segments and geographies. The Mint and Ultra brands add to the company’s current prepaid service offerings Metro by T-Mobile, T-Mobile branded prepaid and Connect by T-Mobile.
T-Mobile will pay up to a maximum of $1.35 billion in a combination of 39% cash and 61% stock to acquire Ka’ena. The actual price to be paid by T-Mobile will be based upon Ka’ena’s performance during certain periods before and after the closing.
In n a video posted on Wednesday, Mike Sievert, CEO of T-Mobile, said that the company will retain Mint’s $15 per month pricing.