T-Mobile will buy Ryan Reynolds-backed Mint Mobile for up to $1.35 billion

The "Deadpool" actor will continue in a creative capacity.

Ryan Reynolds is expected to profit from his investment in Mint Mobile just under three and a half years after making the Deadpool actor the company's public face. Ka'ena, the parent business of Mint Mobile, will be acquired by T-Mobile for up to $1.35 billion in cash and shares, according to the announcement.

When the transaction concludes, which is anticipated to happen later this year, the ultimate price will be determined based on Ka'ena's success both before and after that time. Additionally, Ka'ena is the owner of wholesaler Plum and the foreign calling-focused carrier Ultra Mobile.

The New York Post reported in 2021 that Reynolds is thought to own 20 to 25 percent of Mint. He will continue in his artistic capacity as Mint spokesperson. In late 2019, Mint, which was established in 2015, separated from Ultra.

The success of Mint, a mobile virtual network provider that has operated on T-Mobile since its beginning, can be attributed to its charismatic salesperson and cost-effective pricing. In a YouTube video, T-Mobile President Mike Sievert reaffirmed the news that Mint will maintain its $15 monthly price.

According to a statement from T-Mobile, Mint and Ultra will enhance its current prepaid offerings. The brands will continue to be managed by the founders of Mint, David Glickman and Rizwan Kassim, and according to T-Mobile, they will typically function as a distinct business entity. T-Mobile, meanwhile, is attempting to take advantage of Mint and its well-known co-marketing owner's expertise.

We are thrilled to use our size and owners' economics to help propel it — and Ultra Mobile — into the future. Mint has created an extremely effective digital direct-to-consumer company that continues to produce for consumers on the Un-top carrier's 5G network "stated Sievert. We'll gain over time by implementing the marketing strategy for which Mint has become renowned in more T-Mobile areas.

"Mint Mobile is the best wireless bargain, and today's news only strengthens our capacity to satisfy our clients, "said Reynolds. We are thrilled that T-Mobile outbid my mom Tammy Reynolds' bold last-minute offer because we think the strength of their 5G network will be a better strategic match than my mom's slightly above-average mahjong abilities.