T-Mobile acquires Ryan Reynolds-backed Mint Mobile for $1.3B

 

T-Mobile has acquired Ryan Reynolds-backed prepaid wireless company Mint Mobile for $1.3B.  The deal is structured in both equity and debt. Mint Mobile is a mobile virtual network operator that enables users to buy wireless data in bulk. The deal will be structured in 61% equity and 39% cash. Ryan Reynolds will continue to serve as the company's spokesman. The actor owned around 20% of the company. Mint Mobile was founded in 2016 and is believed to have over $100M in revenue. The company is based in California.