The prepaid wireless carrier will be owned by T-Mobile, the second-largest wireless carrier in the US, following a payout to parent company Ka'ena Corporation.
, T-Mobile CEO Mike Sievert said that “Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers... now we are excited to use our scale and owners’ economics to help supercharge it - and Ultra Mobile - into the future.”
Mint founders David Glickman and Rizwas Kassim will continue to work with the subsidiary by managing the brands under T-Mobile. Actor Ryan Reynolds became a partial owner of Mint Mobile in 2019 and holds roughly a 25% stake in the company. He will stay on as the company’s spokesperson.
Although the company reported the approximate payout amount $1.35 billion, the final value of the deal is tied to Ka’ena’s performance before and after it closes, and consists of a combination of 39% in cash and 61% stock.
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