One of the most affordable carriers, Mint Mobile, will be acquired by T-Mobile, the two companies announced today.
In a press release, T-Mobile announced its intention to buy out not just Mint Mobile, but also Ultra Mobile. The two budget-focused carriers already run on T-Mobile’s network, but will now be a formal part of the larger carrier.
Mint Mobile’s claim to fame over the past few years, beyond being owned by Deadpool himself, Ryan Reynolds, was its incredibly affordable pricing. Single lines cost as little as $15/month and are purchased for a select period of time, from one month to a year. Mint Mobile apparently has somewhere between two million and three million customers.
It’s not entirely clear what T-Mobile has planned for Mint Mobile and Ultra Mobile in the long-term, but at least in the short term it appears the carriers will continue to operate as they do today as a “separate business unit.” T-Mobile CEO Mike Sievert directly says that the $15/month pricing will remain available and that Mint founders David Glickman and Rizwan Kassim will stay on board. Even Ryan Reynolds will still be involved in a creative role.
The deal will see T-Mobile paying out up to $1.35 billion depending on “performance during certain periods before and after the closing.”
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