© Reuters. T-Mobile buys phone company Ka’ena for $1.35 billion
New York, March 15 (.).- The telecommunications company T-Mobile (NASDAQ:) has purchased the Ka’ena company with all its subsidiaries and brands for 1.35 billion dollars, it announced today in a press release.
The purchase includes low-cost wireless phone provider Mint, which owns actor Ryan Reynolds (NYSE:), along with Ultra Mobile and wholesaler Plum.
The statement indicated that the services offered by Mint and Ultra are similar to those already provided by T-Mobile through Metro and Connect.
T-Mobile explains that with the purchase of these services it intends to promote its growth and offer competitive prices to more customers in the United States.
“In the long run, we will also benefit from applying the marketing formula for which the Mint has become famous,” the note said.
Mint founders David Glickman and Rizwan Kassim will remain at T-Mobile to manage the brands, which already use T-Mobile for their network, and will operate as separate business units. While Reynolds, known for his roles in romantic films and as the superhero Deadpool, will continue his creative role on Mint’s behalf, the statement further stated.
“Our brands have thrived on T-Mobile’s network, and we’re thrilled that this agreement will take them even further, bringing the many benefits of 5G to more Americans,” said Glickman, founder and CEO of Mint, Ultra 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.
