T-Mobile US (NASDAQ: TMUS) is to acquire Ka’ena Corporation and its subsidiaries and brands: Mint Mobile, Ultra Mobile, and Plum.
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.
Ka’ena Corporation is home to wireless brands Mint Mobile and Ultra Mobile, and Plum.
Mint Mobile is a direct-to-consumer (D2C) prepaid wireless brand in the U.S., Ultra Mobile is a wireless service offering international calling options to communities across the country, and Plum is a wholesale wireless solutions provider.
Operating as MVNOs on the T-Mobile network, Ultra Mobile launched in 2011 with the mission of making international calling more affordable and accessible and Mint Mobile launched in 2016 and has revolutionized the way consumers access wireless with its leading direct-to-consumer (DTC) experience. With plans available for as little as $15/month, Mint Mobile offers incredible value for a premium service.
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 device inventory to more U.S. consumers seeking value offerings. The company will also be able to leverage Mint’s digital D2C marketing expertise as part of its broader portfolio 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.
Following the deal’s close, Mint’s founders David Glickman and Rizwan Kassim will remain onboard at T-Mobile to manage the brands, which will generally operate as a separate business unit. Owner Ryan Reynolds will continue on in his creative role on behalf of Mint.
FinSMEs
16/03/2023