T-Mobile Buys Mint For $1.35B To Grow Cheap Phone Plan Business

Mint Mobile and its spokesman actor Ryan Reynold are joining T-Mobile as part of an acquisition to help grow the 5G carrier’s business for cheap phone plans

On Wednesday, T-Mobile announced(Opens in a new window) it’s paying $1.35 billion for Mint, which is perhaps best known for featuring ads with Reynolds touting its affordable phone plans. 

Mint also won PCMag’s Readers’ Choice Award for best mobile carrier in the US. Users cited the carrier’s low prices, strong cellular service and positive customer support experiences. So naturally, consumers may wonder what will change with T-Mobile, which already operates Metro, a business that focuses on affordable prepaid plans. 

The carrier says it’s keeping the Mint brand and service intact as a seperate business. This includes maintaining Ultra Mobile, Mint’s sister company that focuses on international calling plans. 

“We’re excited to continue Mint’s famous $15 a month pricing,” added T-Mobile CEO Mike Sievert in a video(Opens in a new window) introducing the acquisition. “We’re so happy that Mint Mobile and Ultra Mobile will play a big part in T-Mobile’s future.”

In addition, Reynolds “will continue on in his creative role on behalf of Mint,” the carrier said. So expect to see more Mint-focused ads from the Hollywood actor. 

T-Mobile says the acquisition is focused on growing the carrier’s business for US consumers looking for better value in their phone plans. Mint — which had already been using T-Mobile’s network to provide cellular services— currently offers plans that range from $15 to $30 per month. The catch is that the company has been requiring customers to first pay a large upfront fee to help keep the costs down. 

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In the announcement, T-Mobile also signaled it was buying Mint for its successful marketing machine led by Reynolds. “Over the long-term, we’ll also benefit from applying the marketing formula Mint has become famous for across more parts of T-Mobile. We think customers are really going to win with a more competitive and expansive Mint and Ultra,” Sievert added. 

Mint’s founders David Glickman and Rizwan Kassim will remain onboard at T-Mobile to manage the brands.

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