Tech Mobile T-Mobile Is Buying Mint Mobile in Potential $1.35B Deal

From CNET: T-Mobile is boosting its prepaid offerings. The nation's second-largest wireless carrier announced on Wednesday that it has reached a deal to acquire Ka'ena Corporation, the parent company to prepaid wireless brands Mint Mobile and Ultra Mobile as well as wireless wholesaler Plum.

The deal, which could be worth "up to a maximum of $1.35 billion in a combination of 39% cash and 61% stock" according to a press release, will see T-Mobile bring the brands that already run on its network more directly into its operations. The actual sales price will be "based upon Ka'ena's performance during certain periods before and after the closing," the carrier also said in a press release.

T-Mobile says it expects the deal to close later this year. Once closed, it "plans to use its supplier relationships and distribution scale to help the brands to grow and offer competitive pricing and greater device inventory" to consumers, says the release.

The wireless carrier adds that Mint and Ultra will be "complementary" to the carrier's other prepaid options, which include Metro by T-Mobile, T-Mobile's own branded prepaid service and its Connect by T-Mobile brand.

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