Mint Mobile, a mobile virtual network that operates exclusively online, is set to be acquired by T-Mobile. The telecommunications giant announced its plans for the acquisition on March 15th, 2023, along with their plans for it.
T-Mobile Acquiring Mint Mobile
The company has made deal with Ka'ena Corporation, Mint Mobile's parent company, to purchase its subsidiaries and brands. T-Mobile will pay up to $1.35 billion for 39% of the payment, with the other 61% to be bought with stock.
They will also continue using Mint Mobile's exclusive 5G network, Un-carrier, as well as the $15 per month pricing option for 4 GB of 4G or 5G data, as mentioned in MacRumors. The purchase will include the brand's sales, marketing, digital, and service operations.
T-Mobile will utilize its supplier relationships and distribution scale to help Mint Mobile grow as well as offer prices that can compete with other brands. The telecommunication company claims that Mint has an "industry-leading digital D2C marketing expertise" that can be leveraged.
As mentioned by T-Mobile CEO Mike Sievert, Mint has built an incredibly successful digital direct-to-consumer business, which customers can continue to use for Un-carrier's leading 5G network. The company aims to "supercharge" Mint and Ultra Mobile into the future.
Mint, Ultra, and Plum CEO David Glickman expressed that the aforementioned brands thrived on the network provided by T-Mobile. He added that the agreement will take the service further and benefit more Americans by providing them with the 5G network.
Ryan Reynolds, a known actor who supports and promotes the brand, joked around saying that he was glad that T-Mobile beat the last-minute bid of his mother, Tammy Reynolds, and that T-Mobile's network will provide a better strategic fit than his mom's mahjong skills.
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Mint Mobile
Mint Mobile offers plans wherein its customers will get premium wireless service on the country's largest 5G network, along with promises of keeping prices as low as they can go due to the lack of stores and salespeople.
There are various data plans that users can choose from. 4 GB of data per month will cost $15 and offers nationwide coverage along with unlimited calls and text. Other plans have 10 GB, 15 GB, and Unlimited data, priced at $20, $25, and $30, respectively.
Subscribers can bring their own unlocked device and use their current phone number to apply for a plan. They can also get six months of free wireless service when they buy a phone and a six-month plan from Mint.
Phone models offered include the latest iPhone 14, wherein a customer can pay $77 monthly until they pay off the $919 total price. The same offer goes for Google Pixel 7 Pro at $83 a month with a total of $989, and Samsung A13 5G for $29 a month with a total of $340.
Customers can also avail of more than one phone at a time and still get the six-month free service offer. The device that is bought from Mint will be locked to their network for a year, which is the total of the free service offer and the paid-for six more months that come with it.
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