rTechNews
  • Gadget Reviews
  • Gaming News
  • SmartPhone News
  • Latest News
No Result
View All Result
  • Login
rTechNews
  • Gadget Reviews
  • Gaming News
  • SmartPhone News
  • Latest News
No Result
View All Result
rTechNews
No Result
View All Result
T-Mobile Is Buying Mint Mobile in Potential $1.35B Deal

T-Mobile Is Buying Mint Mobile in Potential $1.35B Deal

gadgetnews by gadgetnews
March 15, 2023
in Latest News
0
Share on FacebookShare on Twitter


T-Mobile is boosting its prepaid offerings. The nation’s second-largest wireless carrier announced on Wednesday that it has reached a deal to acquire Ka’ena Corporation, the parent company of prepaid wireless brands Mint Mobile and Ultra Mobile, as well as wireless wholesaler Plum. 

You might also like

Get £110 off a Ring Alarm Kit and Camera Bundle

Get £110 off a Ring Alarm Kit and Camera Bundle

March 30, 2023
Elon Musk and Tech Leaders Urge Pause in AI Boom, Citing ‘Profound Risks’

Elon Musk and Tech Leaders Urge Pause in AI Boom, Citing ‘Profound Risks’

March 29, 2023

The deal, which could be worth “up to a maximum of $1.35 billion in a combination of 39% cash and 61% stock” according to a press release, will see T-Mobile bring the brands, which already run on its network, more directly into its operations. The actual sales price will be “based upon Ka’ena’s performance during certain periods before and after the closing,” the carrier also said in a press release.

Ryan Reynolds, Mint’s part owner and face of the wireless carrier, who frequently stars in its advertising, will also remain involved in a “creative role on behalf of Mint,” according to the T-Mobile press release. The Deadpool actor owns about one-fourth of Mint, and co-founder David Glickman tells CNET that Reynolds is staying with the company for “multiple years.” 

Reynolds announced the deal in a video with T-Mobile CEO Mike Sievert that was posted online on Wednesday morning.

T-Mobile says it expects the deal to close later this year. Once closed, it “plans to use its supplier relationships and distribution scale to help the brands to grow and offer competitive pricing and greater device inventory” to consumers, says the release. 

The wireless carrier adds that Mint and Ultra will be “complementary” to the carrier’s other prepaid options, which include Metro by T-Mobile, T-Mobile’s own branded prepaid service, and its Connect by T-Mobile brand. 

Mike Katz, T-Mobile’s president of marketing, innovation and experience, tells CNET that adding Mint and Ultra to its stable of brands “allows us to have more products and more variety to more customers, and have a kind of a proposition that works for everybody no matter what they’re looking for.”

Neither T-Mobile nor Ka’ena Corporation are disclosing how many customers will be joining T-Mobile as part of this acquisition. Katz says that, because the Mint and Ultra brands are private companies, those numbers will be revealed at the end of the year after the deal closes. 

Read more: Best Prepaid Phone Plans

As part of the acquisition, Mint and Ultra’s founders — Glickman and Rizwan Kassim — will stay on to “manage the brands.” Glickman tells CNET that Mint’s rate plans “haven’t changed and are not going to change going forward.” He also said the company has been working to add value to its offerings by including more data or international calling at the same prices, not taking things away or raising rates. 

He teases that more will be coming to Mint and Ultra plans even before the T-Mobile deal closes, with a “very big announcement” coming within the next two months that he says will benefit all of its customers. “This is all about how we can continue to bring more and more value to the customer at our existing price point.”



Source link

Related

gadgetnews

gadgetnews

Related Stories

Get £110 off a Ring Alarm Kit and Camera Bundle

Get £110 off a Ring Alarm Kit and Camera Bundle

by gadgetnews
March 30, 2023
0

If you’ve been waiting to upgrade your home security, now is the time as Ring is offering some of the...

Elon Musk and Tech Leaders Urge Pause in AI Boom, Citing ‘Profound Risks’

Elon Musk and Tech Leaders Urge Pause in AI Boom, Citing ‘Profound Risks’

by gadgetnews
March 29, 2023
0

Elon Musk, along with a number of tech executives and experts in AI, computer science and other disciplines, in an open...

New Lenovo Yoga Pro 9i Laptop Features 165Hz Mini-LED Display

New Lenovo Yoga Pro 9i Laptop Features 165Hz Mini-LED Display

by gadgetnews
March 28, 2023
0

Lenovo’s Yoga range might’ve helped popularise the 2-in-1, but the range includes other types of laptop these days.  In fact,...

Netflix: The Very Best Sci-Fi Movies to Watch

Netflix: The Very Best Sci-Fi Movies to Watch

by gadgetnews
March 28, 2023
0

Movie night is a beloved, long-standing tradition for families all around the world. With a wide variety of movies available...

Next Post
UK Broadband Price Hikes: What You Need to Know

UK Broadband Price Hikes: What You Need to Know

  • Terms of Use
  • Privacy Policy
  • Contact Us

© 2022 rTechNews.

No Result
View All Result
  • Affiliate Disclosure
  • Amazon Affiliate Disclaimer
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy
  • Terms of Use

© 2022 rTechNews.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In