Mint Mobile, the wireless phone company that features actor and producer Ryan Reynolds in its commercials, has been acquired by T-Mobile in a deal that could value the startup firm at $1.35 billion.
T-Mobile is set to pay 39% cash and 61% stock for the deal, according to the company. The actual payout will depend on the performance of the brands before and after the deal closes, Bloomberg reported.
“Mint Mobile is the best deal in wireless and today’s news only enhances our ability to deliver for our customers,” Reynolds, who is a minority owner in the company, said in a statement Wednesday.
“We are so happy T-Mobile beat out an aggressive last-minute bid from my mom Tammy Reynolds as we believe the excellence of their 5G network will provide a better strategic fit than my mom’s slightly above-average mahjong skills. I am so proud of the entire Mint team and so excited for what’s to come.”
T-Mobile announced in a blog post that it had reached a deal to acquire Ka’ena Corporation, the parent company of Mint Mobile and Ultra Mobile, as well as wireless wholesaler Plum.
The deal is expected to close later this year. According to T-Mobile, Reynolds will stay on as spokesperson.
I only want the best for Mint Mobile customers. Think I’ve found it. pic.twitter.com/nSNmGKLmN2— Ryan Reynolds (@VancityReynolds) March 15, 2023