U.S. wireless giant %TMobile ($TMUS) is buying rival %MintMobile for $1.35 billion U.S.
The acquisition of budget wireless provider Mint Mobile also includes Ultra Mobile, an international calling service, and wireless wholesaler Plum, according to T-Mobile.
Mint Mobile is perhaps best known for its association with actor Ryan Reynolds, who has a minority ownership stake in the company.
Mint Mobile said that Reynolds will remain the company’s spokesperson after the acquisition by T-Mobile is completed.
Mint Mobile was created in 2016 with the goal of delivering an “affordable, premium wireless” service direct to consumers, according to the company.
T-Mobile said it plans to boost its prepaid wireless plans and services with the acquisition of Mint Mobile.
Mint Mobile said it is likely to continue operating as a separate business unit, and that its $15 U.S. per month pricing plan would stay in place after the purchase by T-Mobile is finalized later this year.
T-Mobile’s stock has gained 16% over the last 12 months to trade at $145.61 U.S. per share. Mint Mobile is privately held.