T-Mobile Acquires Mint Mobile: In a $1.3 billion deal, T-Mobile has acquired Ryan Reynolds’ Mint Mobile. Ryan Reynolds, an actor and producer, has signed his first deal in the billion-dollar range.
Reynolds is a minority stakeholder in wireless upstart Mint Mobile, which was recently acquired by industry major T-Mobile in a deal estimated to be worth $1.35 billion (the actual payout will depend on the performance of the brands before and after the deal closes). T-payment Mobile’s structure for this purchase is 39% cash and 61% stock.
Reynolds’ share of the purchase proceeds is unclear at this time, but he is reported to own 20–25 percent of Mint Mobile, which would translate to a low nine-figure payout.
“Today’s news only increases our ability to deliver for our customers,” Reynolds said in a statement released on Wednesday. T-5G Mobile’s network, in contrast to my mother Tammy Reynolds’ somewhat above-average mahjong skills, is why we chose them over an aggressive last-minute bid from another company. I can’t wait to see what the rest of the Mint team does.
T-Mobile is buying not only the cryptocurrency exchange Mint, but also the wireless wholesaler Plum, and the international calling service Ultra Mobile. Ka’ena Corp was the parent firm of all three entities, and it will continue to operate under the direction of its co-founders, David Glickman and Rizwan Kassim.
Reynolds will stay on as Mint’s creative director per the terms of the agreement. The actor’s trademark wit has been used in numerous commercials for the telecom company.
T-CEO, Mobile’s Mike Sievert, released a statement saying he plans to implement the same strategy at the parent firm.
The marketing strategy that Mint has been known for may be applied to other areas of T-Mobile, which will have positive effects in the long run, he said. “We believe that customers will benefit much from a more competitive and inclusive Mint and Ultra,”
In addition to his acting career, Reynolds has extensive business experience. He made a $600 million profit from selling the Aviation Gin brand to Diageo in the year 2020.
