Ryan Reynolds' business acumen shines again with $1B company sale
T-Mobile announced its plans to acquire the famous actor Ryan Reynolds' budget-friendly mobile virtual network operator firm, Mint Mobile. Reynolds and T-Mobile's CEO, Mike Sievert, shot an entertaining video to officialize the process and let the fans know.
T-Mobile is not only acquiring Mint Mobile but its parent company, Ka'ena Corporation. The acquisition includes two other subsidiaries apart from Mint Mobile; the wireless service offering international calling options to communities across the country Ultra Mobile and wholesaler Plum.
The company will pay up to a maximum of $1.35 billion to complete the sale, split into 39$ cash and 61% stock. Both parties have agreed to close the deal, which is expected to be finalized later this year. However, the price may change according to Ka'ena's performance during certain periods.
T-Mobile is looking to use Mint's D2C marketing expertise to reach new customer segments and geographies. "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."
Ryan Reynolds saw the opportunity in 2019
Mint Mobile was founded back in 2015, but Ryan Reynolds joined the board of directors in 2019 after buying a 20-25% ownership stake. The company offers one of the cheapest services, and T-Mobile is willing to continue its $15 per month pricing option. Mint offers 4GB of high-speed 4G or 5G internet paired with unlimited text and talk. The acquisition includes all departments of Mint, including sales, marketing, and operations, which T-Mobile will use to continue its growth.
"Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver?for customers on the Un-carrier's leading 5G?network. Now, we?are excited to use our scale and owners' economics to help supercharge it - and Ultra Mobile - into the future. 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.
Mint's founders David Glickman and Rizwan Kassim, will remain on board to manage the brands as a separate unit. On the other hand, Ryan Reynolds will also continue his creative role on behalf of Mint.
Apart from his roles in famous films like Deadpool, Ryan Reynolds is also known for successful business moves. In 2020, the actor sold Aviation Gin to Diageo for $610 million.Advertisement
Bravo to really advanced IT news. Congratulations.
IMHO ghacks has been completely degraded to tole of tabloid. It’s no sense to read it any more.
I told ya! They want “normies” Everyone does. That’s where the eyes and clicks are. Fourms are the place for us now – not the modern web
Tech minded people are too grouchy, argue in the comments all the time, and just sound plain boomer-ish. This is the sort of stuff that young millennials and GenZs are more to be turned off by. However, they are more likely to read stuff like Tech Tabloid.
I was told on the comments I was full of it, but notice anytime there’s a comment on here, no one form Ghacks responds? Not Martin, not Ashwin, not Shaun – not anybody. You are NOT their target anymore – plain and simple.
yep, somehow everything is moving into the mindlessness direction … genZ shit, short, pre-digested appetizer (text)clips, carefully not to overload their minimalistic attentionspan, spoiling the non existent critical thinking. the results e.g are childs driving things like FTX with ridicoulos navity, or staff at PeopleDAO wo manage highly sensble information in a public googledocs sheet etc ppp. The spam of superficial articles at least dont invite ppl to critica think and dive into the matters.