Un-carrier closes transaction to acquire Ka’ena Corporation, will supercharge brands to deliver more value and benefits to customers on America’s most awarded 5G network
BELLEVUE, Wash.–(BUSINESS WIRE)–The deal is done! T-Mobile US Inc. (NASDAQ: TMUS) today announced the completion of its acquisition of Ka’ena Corporation, which includes direct-to-consumer (D2C) prepaid wireless brands Mint Mobile, internationally-focused value brand Ultra Mobile, and wholesale wireless solutions provider Plum. And, as it does, the Un-carrier is letting Mint and Ultra customers know it’s great to have them here by giving them magenta goodness right out of the gate – a few freebies and new offers just for being a part of Team T-Mobile.
This deal locks in Mint and Ultra’s connectivity to T-Mobile’s industry-leading 5G network for the long-term and enables them to tap into the Un-carrier’s relationships and scale to deliver their already loved products and simplified experiences to even more prepaid customers across the U.S. T-Mobile will also tap into the unique capabilities that have fueled their success in wireless, particularly Mint’s best-in-class approach to D2C marketing that customers love.
“This combination is a win-win all around – a perfect pairing of highly complementary brands coming together on our industry-best 5G network to continue shaking things up for the benefit of customers,” said Mike Katz, President of Marketing, Strategy and Products at T-Mobile. “We are excited to maintain the unique style and entrepreneurial spirit that make Mint and Ultra truly special, while also finding ways to supercharge their growth and leverage some of the secrets of that success into other areas of our business.”
Looking Ahead
Ka’ena leadership, including Mint founders David Glickman and Rizwan Kassim, are joining T-Mobile alongside their teams and will continue to drive these brands. The brands will continue to operate autonomously but closely aligned to the broader T-Mobile brand and business, similar to T-Mobile’s successful acquisition of MetroPCS in 2013. Ryan Reynolds will continue in his creative role on behalf of Mint. Their focus will be to deliver amazing products, value and digital-first experiences for more prepaid customers in more places.
“In partnership with T-Mobile we have delivered the best value in wireless to our customers,” said David Glickman, Founder and CEO of Mint, Ultra and Plum. “From day-one, we have been committed to putting the customer first and T-Mobile deeply shares that commitment. The completion of this acquisition sets the stage for even more customer-wins as we continue to innovate and leverage the largest and fastest 5G network.”
“I am so proud of the entire Mint Mobile team. Even Gary from Finance who’s been a real stickler over the years,” commented Ryan Reynolds. “We’ve been able to rapidly grow this brand by putting customers and value first while being unafraid to act quickly and take chances. T-Mobile is the best partner to help us supercharge Mint and we’re grateful for their partnership.”
Rolling out the Welcome Mat
Now and over the next few months, T-Mobile is rolling out upgraded perks for current and future Mint and Ultra customers in the form of some of the Un-carrier’s favorite benefits, and a few new ones. Customers will enjoy:
- $15 Commitmint: Starting now, a commitmint that Mint Mobile will continue to have a $15/month plan available for new and existing customers.1 In addition, Mint is committing to continuing its new customer offer of 3 months of Unlimited Premium Wireless for $15/mo through the end of the year.2
- Scam Screener: Coming soon, Mint and Ultra customers will get extra peace of mind with sketchy calls flagged as “Scam Likely” on their phone’s ID.
- Free Canada Roaming: Mint Mobile customers will soon be able to enjoy unlimited talk and text and 3Gb of high-speed data while in Canada – for FREE.3
- Mexico Roaming: In the coming weeks, Ultra customers traveling to Mexico will have an enhanced data roaming option in addition to the already included Talk and Text on most plans.
Over time, T-Mobile will continue to find even more ways to supercharge the Mint and Ultra customer experience–all on the same leading 5G network they already enjoy.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains certain forward-looking statements concerning T-Mobile. All statements other than statements of fact, including information concerning future results, are forward-looking statements. These forward-looking statements are generally identified by the words “plan,” “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “could” or similar expressions. Such forward-looking statements include, but are not limited to, statements about the benefits of the acquisition of Ka’ena Corporation (“Ka’ena”) and its subsidiaries, including anticipated future financial and operating results and T-Mobile’s objectives, expectations and intentions. There are several factors which could cause actual plans and results to differ materially from those expressed or implied in forward-looking statements. Such factors include, but are not limited to, adverse economic, political or market conditions in the U.S. and international markets; negative effects of the acquisition on the market price of T-Mobile’s common stock and on T-Mobile’s operating results, including as a result of changes in key customer, supplier, employee or other business relationships; costs or difficulties related to the integration of Ka’ena’s operations and financial reporting and internal controls into T-Mobile; effects of changes in the regulatory environment in which T-Mobile operates; the risk of litigation or regulatory actions; and other risks and uncertainties detailed in T-Mobile’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, including in the sections thereof captioned “Risk Factors” and “Cautionary Statement Regarding Forward-Looking Statements,” as well as in its subsequent reports on Form 8-K and Form 10-Q, all of which are filed with the SEC and available at www.sec.gov and www.t-mobile.com. Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties that may cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Given these risks and uncertainties, persons reading this communication are cautioned not to place undue reliance on such forward-looking statements. T-Mobile assumes no obligation to update or revise the information contained in this communication (whether as a result of new information, future events or otherwise), except as required by applicable law. References to our and the SEC’s website are inactive textual references only. Information contained on our and the SEC’s website is not incorporated by reference in this communication and should not be considered to be a part of this communication.
Advisors
Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to T-Mobile. LionTree LLC served as lead financial advisor with BofA Securities and TAP Securities LLC also serving as financial advisors to Ka’ena Corporation. Latham & Watkins LLP served as lead legal counsel and advisor with Bernstein Shur also serving as legal counsel for Ka’ena Corporation.
About T-Mobile
T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged Un-carrier, delivering an advanced 4G LTE and transformative nationwide 5G network that will offer reliable connectivity for all. T-Mobile’s customers benefit from its unmatched combination of value and quality, unwavering obsession with offering them the best possible service experience and undisputable drive for disruption that creates competition and innovation in wireless and beyond. Based in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Sprint. For more information please visit: https://www.t-mobile.com
1 $15/mo Commitment: Upfront payment for multi-month plan required. Commitmint excludes taxes & fees, select promotions, third-party charges, per-use charges, add-on features, & network management practices; rate plan features may vary.
2 3-Months of Unlimited Premium Wireless for $15/mo: Upfront payment of $45 for 3-month plan (equivalent to $15/mo) required. Promotional rate for first 3 months only; then full-price plan options available. Taxes and fees extra. Limited time new customer offer; non-transferable & no cash value. Unlimited customers only >40GB/mo will experience lower speeds. Videos stream at ~480p. See full terms at mintmobile.com.
3 Free Roaming in Canada: Not for extended international use; service may be terminated or restricted for excessive roaming. Coverage not available in some areas.
Contacts
Media Contacts
T-Mobile US, Inc. Media Relations
[email protected]
Investor Relations Contact
T-Mobile US, Inc.
[email protected]
https://investor.t-mobile.com
