Mint Mobile, the prepaid wireless provider partially owned by Ryan Reynolds, has been bought by T-Mobile US Inc. for $1.3 billion.
T-Mobile’s purchase of Ka’ena Corp. will give it access to the budget wireless provider Mint, along with Ultra Mobile and wholesaler Plum. The brands, which already use T-Mobile for their network, will be run as a separate business unit.
The actor announced the news on Twitter Wednesday, sharing that he only wants "the best for Mint Mobile customers."
He added that he thinks he's "found it" after the sale to the second-largest mobile service provider.
RYAN REYNOLDS SET TO FETCH HUNDREDS OF MILLIONS FROM HIS STAKE IN MINT MOBILE: SOURCE
"I never dreamt I’d own a wireless company and I certainly never dreamt I’d sell it to T-Mobile. Life is strange and I’m incredibly proud and grateful. #MintMobile," Reynolds tweeted.
Reynolds will retain his role in the company along with Mint founders David Glickman and Rizwan Kassim, who are keeping their positions at T-Mobile after the companies merge.
The actor was brought on as a partial owner of Mint Mobile in November 2019. He announced the news on Instagram, joking that "to keep things above board, I’ll be paying myself $15 a month."
T-Mobile announced Wednesday the company is acquiring Mint's sales, marketing, digital and service operations. The transaction is on target to close later this year.
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The wireless carrier's CEO, Mike Sievert, said the company plans to give a boost to Mint’s already successful digital direct-to-consumer business.
"Over the long term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile," Sievert said. "We think customers are really going to win with a more competitive and expansive Mint and Ultra."
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In 2020, T-Mobile became the second-largest mobile carrier after purchasing rival provider Sprint.
The Associated Press contributed to this report.
