T-Mobile acquiring Mint Mobile, the Ryan Reynolds-backed prepaid wireless brand [Video]

T-Mobile is acquiring the popular Mint Mobile prepaid wireless brand, which is owned in part by celebrity Ryan Reynolds. The deal, according to Bloomberg, is valued at “as much as” $1.35 billion and it comes as part of T-Mobile’s effort to “bolster its prepaid phone business and reach more lower-income customers.”

As T-Mobile details in its blog post announcing the deal, the acquisition is for Ka’ena Corp. This is the parent company for Mint Mobile, wholesaler Plum, and the lesser-known Ultra Mobile brand. Ultra Mobile is a “unique wireless service offering international calling options to communities across the country.”

Mint Mobile has become an increasingly popular prepaid wireless brand, due in part to its close ties to Ryan Reynolds. In 2019, Reynolds acquired a 20% to 25% ownership stake in Mint Mobile for an undisclosed amount of money.

In a statement on the acquisition, Reynolds said that the new deal will allow Mint Mobile …