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T-Mobile completed its acquisition of Mint Mobile’s parent company, Ka’ena Corporation, on May 1, 2024. The deal was announced in 2023 for up to $1.35 billion—not as a confirmed all-cash payment—and also covered Ultra Mobile and wireless wholesaler Plum. Ryan Reynolds had an ownership interest and a creative and marketing role, but the transaction was about the wider business, not just his celebrity profile.
The deal at a glance
| Detail | What happened |
|---|---|
| Buyer | T-Mobile US |
| Acquired company | Ka’ena Corporation, parent of Mint Mobile, Ultra Mobile and Plum |
| Agreement signed | March 9, 2023 |
| Public announcement | March 15, 2023 |
| Acquisition closed | May 1, 2024 |
| Maximum potential consideration | Up to $1.35 billion, subject to deal terms and performance-based consideration |
| Ryan Reynolds | Co-owner or partial owner and a creative and marketing figure; an exact ownership percentage is not established in the cited primary sources |
T-Mobile’s announcement described the agreement; its 2024 Form 10-K records the closing and purchase-accounting details.
What T-Mobile actually bought
The transaction was for Ka’ena Corporation, not simply the Mint name. Ka’ena included Mint, a digital-first prepaid wireless brand; Ultra Mobile, which is known in part for international-calling offerings; and Plum, a wireless wholesaler. The acquisition also brought Ka’ena’s related operations, customer relationships, sales and marketing capabilities, and business assets under T-Mobile ownership.
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That scope matters: T-Mobile already had a wholesale relationship with the business. Buying Ka’ena gave it ownership of the brands and their customer relationships as well as the opportunity to use the company’s direct-to-consumer model.
#1 Best Overall
- WHAT YOU GET: Three (3) months of unlimited talk, text, and data delivered on the nation's largest 5G network. Data speeds may slow after 50GB when network is busy but data is unlimited. Videos stream at 480p.
- OH, YOU GET THIS TOO: 5G for Free + free mobile hotspot + Wi-Fi calling and text + free international calls to Mexico and Canada
- HOW YOU GET IT: The SIM Kit comes with a 3-in-1 SIM card that includes standard/micro/nano sizes, insert the SIM into your device, and activate on the Mint Mobile website or app. You can activate service on your own unlocked device with our Bring Your Own Phone (BYOP) program. Check your coverage and phone compatibility on the Mint Mobile website.
- WHO SHOULD GET IT: Anyone who hates their phone bill
- WHY YOU SHOULD GET IT: Mint Mobile took what’s wrong with wireless and made it right. We re-imagined the wireless shopping experience and made it easy and online.
Why T-Mobile wanted Mint and Ka’ena
T-Mobile emphasized Mint’s digital sales, direct-response marketing, and customer-acquisition expertise. Those capabilities offered a way to reach price-conscious prepaid customers through a brand and online sales model distinct from T-Mobile’s traditional postpaid business. The broader acquisition also added Ultra Mobile and Plum to T-Mobile’s prepaid and wholesale operations.
T-Mobile said its scale and supplier relationships could help improve device inventory and distribution while supporting competitive pricing. Those were the company’s stated expectations, not a guarantee that every Mint customer would receive a lower price or a better device selection.
Reynolds’ public association with Mint helped give the brand a recognizable voice, but T-Mobile described its rationale in terms of Ka’ena’s marketing and digital-sales capabilities. The $1.35 billion headline should not be read as a price paid solely for Reynolds’ endorsement.
Rank #2
- We recently increased high-speed data allotments on every plan (but kept the same low pricing)! You may see a 5GB sticker on the front of your 6GB SIM Kit, rest assured your plan will have all 6GB of data loaded each month.
- WHAT YOU GET: Three (3) months of unlimited talk and text + 6GB of 5G-4G LTE data each month delivered on the nation's largest 5G network.
- OH, YOU GET THIS TOO: 5G for Free + free mobile hotspot + Wi-Fi calling and text + free international calls to Mexico and Canada
- HOW YOU GET IT: The SIM Kit comes with a 3-in-1 SIM card that includes standard/micro/nano sizes, insert the SIM into your device, and activate on the Mint Mobile website or app. You can activate service on your own unlocked device with our Bring Your Own Phone (BYOP) program. Check your coverage and phone compatibility on the Mint Mobile website.
- WHO SHOULD GET IT: Anyone who hates their phone bill
How the $1.35 billion price worked
“Up to $1.35 billion” was the maximum potential consideration, not a confirmed cash payment at closing. T-Mobile’s 2024 Form 10-K reported an upfront payment with a fair value of $956 million: $420 million in cash and 3,264,952 T-Mobile shares valued at $536 million. The original transaction materials described a cash-and-stock structure; the final figures in the later filing are the clearest account of the upfront consideration.
The filing also describes up to $420 million in additional earnout consideration tied to performance indicators. It identifies August 1, 2026, as the earnout payment date, but the cited filing does not establish the final amount paid or whether the earnout was settled. It also distinguishes business consideration from amounts associated with seller services and replacement equity awards, so the maximum should not be treated as a simple final sale price.
The agreement was dated March 9, 2023, according to T-Mobile’s first-quarter 2023 Form 10-Q. The acquisition closed more than a year later, on May 1, 2024, according to the 2024 Form 10-K.
Rank #3
- We recently increased high-speed data allotments on every plan (but kept the same low pricing)! You may see a 15GB sticker on the front of your 17GB SIM Kit, rest assured your plan will have all 17GB of data loaded each month.
- WHAT YOU GET: Three (3) months of unlimited talk and text + 17GB of 5G-4G LTE data each month delivered on the nation's largest 5G network.
- OH, YOU GET THIS TOO: 5G for Free + free mobile hotspot + Wi-Fi calling and text + free international calls to Mexico and Canada
- HOW YOU GET IT: The SIM Kit comes with a 3-in-1 SIM card that includes standard/micro/nano sizes, insert the SIM into your device, and activate on the Mint Mobile website or app. You can activate service on your own unlocked device with our Bring Your Own Phone (BYOP) program. Check your coverage and phone compatibility on the Mint Mobile website.
- WHO SHOULD GET IT: Anyone who hates their phone bill
What Ryan Reynolds’ role did—and did not—mean
Reynolds had an ownership interest in Mint and was prominently associated with its advertising. T-Mobile said he would continue in a creative and marketing role after the announcement. The primary sources cited here do not establish his precise ownership percentage, so calling him the sole owner or assigning him a specific stake would go beyond the available evidence.
Ownership, public-facing advertising, and the operating value of a marketing organization are separate things. T-Mobile’s stated interest was in Mint’s broader direct-to-consumer marketing and customer-acquisition capabilities, alongside the rest of Ka’ena’s business.
What the acquisition means for Mint customers
When it announced the deal, T-Mobile said Mint and Ultra would continue as brands on T-Mobile’s network, with a plan to retain their value positioning while drawing on T-Mobile’s scale. That announcement does not establish that every customer’s plan, billing, support channel, or account-management process stayed unchanged indefinitely. Customers should rely on the terms attached to their own plan and renewal rather than assume the original announcement guarantees a particular arrangement today.
Rank #4
- We recently increased high-speed data allotments on every plan (but kept the same low pricing)! You may see a 20GB sticker on the front of your 23GB SIM Kit, rest assured your plan will have all 23GB of data loaded each month.
- WHAT YOU GET: Three (3) months of unlimited talk and text + 23GB of 5G-4G LTE data each month delivered on the nation's largest 5G network.
- OH, YOU GET THIS TOO: 5G for Free + free mobile hotspot + Wi-Fi calling and text + free international calls to Mexico and Canada
- HOW YOU GET IT: The SIM Kit comes with a 3-in-1 SIM card that includes standard/micro/nano sizes, insert the SIM into your device, and activate on the Mint Mobile website or app. You can activate service on your own unlocked device with our Bring Your Own Phone (BYOP) program. Check your coverage and phone compatibility on the Mint Mobile website.
- WHO SHOULD GET IT: Anyone who hates their phone bill
Mint’s separate value-oriented plans also should not be confused with T-Mobile postpaid plans. Before switching or renewing, check the details that determine the actual cost and service:
- Coverage: Mint uses T-Mobile’s network. Check coverage where you live, work, and travel; network performance depends on location.
- Payment and renewal: Mint’s displayed plans use multi-month terms, and promotional pricing applies to an initial term rather than necessarily continuing at renewal.
- Taxes and fees: The advertised price does not include taxes and fees.
- Data and hotspot: Mint’s plan page says plans include up to 20GB of hotspot data and SD video streaming under the displayed offer. For unlimited customers using more than 50GB in a month, it warns that speeds may be reduced for the rest of the cycle in certain congested locations.
- Phone compatibility: Bring-your-own-device customers should check that their phone is compatible and unlocked before paying for a multi-month plan.
- Support preferences: Mint’s digital-first model may not suit someone who expects extensive in-person retail support.
What Mint’s advertised price means in 2026
As accessed August 18, 2026, Mint’s official plans page displayed a limited-time offer at an effective $15 per month for 3-, 6-, and 12-month terms. The corresponding upfront payments were $45, $90, and $180. This is a term-specific introductory offer, not a promise of $15 monthly service indefinitely; regular prices apply after the initial term, and taxes and fees are extra.
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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →The same page displayed plan tiers and prices that varied by term and promotion, including promotional and crossed-out prices. Because those figures can change, check the live offer and the renewal price for the exact data plan and term before buying. Compare the total upfront payment and renewal cost—not only the effective monthly headline—with the data allowance, hotspot limit, taxes, and network-management terms.
Best Value
- STAY CONNECTED WORLDWIDE: Unlimited calling from the U.S. to 90+ international destinations including India, Mexico, Canada, China, the U.K. and more.
- RELIABLE NATIONWIDE COVERAGE: Enjoy 8GB of high-speed 5G/4G LTE data on the T-Mobile 5G Network.
- TRAVEL ACROSS NORTH AMERICA: Unlimited talk and text in Mexico and Canada plus international roaming credit.
- BRING YOUR OWN PHONE: Activate your compatible unlocked phone with the included 3-in-1 SIM card or eSIM. Keep your number or get a new one.
- NO CONTRACTS: Prepaid wireless with no annual contracts, no credit checks, and no hidden fees.
Who may find Mint a good fit
Mint is most likely to suit customers who have reliable T-Mobile coverage, use a compatible phone, want a lower-cost prepaid option, and are comfortable paying for several months at a time. It can also suit households considering multiple lines, although the current terms and line requirements should be checked before enrollment.
It may be a poor fit for someone who cannot comfortably prepay, depends heavily on hotspot data, needs extensive retail support, or lives or travels in places with weak T-Mobile coverage. Heavy data users should read the plan’s usage-management disclosure before treating “unlimited” as unlimited high-speed service in every circumstance.
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Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
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