Un-carrier closes transaction to acquire Ka’ena
Corporation, will supercharge brands to deliver more value and
benefits to customers on America’s most awarded 5G network
The deal is done! T-Mobile US Inc. (NASDAQ: TMUS) today
announced the completion of its acquisition of Ka’ena Corporation,
which includes direct-to-consumer (D2C) prepaid wireless brands
Mint Mobile, internationally-focused value brand Ultra Mobile, and
wholesale wireless solutions provider Plum. And, as it does, the
Un-carrier is letting Mint and Ultra customers know it’s great to
have them here by giving them magenta goodness right out of the
gate – a few freebies and new offers just for being a part of Team
T-Mobile.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240501364824/en/
Mint and Ultra: Welcome to the T-Mobile
Family! (Graphic: Business Wire)
This deal locks in Mint and Ultra’s connectivity to T-Mobile’s
industry-leading 5G network for the long-term and enables them to
tap into the Un-carrier’s relationships and scale to deliver their
already loved products and simplified experiences to even more
prepaid customers across the U.S. T-Mobile will also tap into the
unique capabilities that have fueled their success in wireless,
particularly Mint’s best-in-class approach to D2C marketing that
customers love.
“This combination is a win-win all around – a perfect pairing of
highly complementary brands coming together on our industry-best 5G
network to continue shaking things up for the benefit of
customers,” said Mike Katz, President of Marketing, Strategy and
Products at T-Mobile. “We are excited to maintain the unique style
and entrepreneurial spirit that make Mint and Ultra truly special,
while also finding ways to supercharge their growth and leverage
some of the secrets of that success into other areas of our
business.”
Looking Ahead
Ka’ena leadership, including Mint founders David Glickman and
Rizwan Kassim, are joining T-Mobile alongside their teams and will
continue to drive these brands. The brands will continue to operate
autonomously but closely aligned to the broader T-Mobile brand and
business, similar to T-Mobile’s successful acquisition of MetroPCS
in 2013. Ryan Reynolds will continue in his creative role on behalf
of Mint. Their focus will be to deliver amazing products, value and
digital-first experiences for more prepaid customers in more
places.
“In partnership with T-Mobile we have delivered the best value
in wireless to our customers,” said David Glickman, Founder and CEO
of Mint, Ultra and Plum. “From day-one, we have been committed to
putting the customer first and T-Mobile deeply shares that
commitment. The completion of this acquisition sets the stage for
even more customer-wins as we continue to innovate and leverage the
largest and fastest 5G network.”
“I am so proud of the entire Mint Mobile team. Even Gary from
Finance who’s been a real stickler over the years,” commented Ryan
Reynolds. “We’ve been able to rapidly grow this brand by putting
customers and value first while being unafraid to act quickly and
take chances. T-Mobile is the best partner to help us supercharge
Mint and we’re grateful for their partnership.”
Rolling out the Welcome Mat
Now and over the next few months, T-Mobile is rolling out
upgraded perks for current and future Mint and Ultra customers in
the form of some of the Un-carrier’s favorite benefits, and a few
new ones. Customers will enjoy:
- $15 Commitmint: Starting
now, a commitmint that Mint Mobile will continue to have a
$15/month plan available for new and existing customers.1 In
addition, Mint is committing to continuing its new customer offer
of 3 months of Unlimited Premium Wireless for $15/mo through the
end of the year.2
- Scam Screener: Coming soon,
Mint and Ultra customers will get extra peace of mind with sketchy
calls flagged as “Scam Likely” on their phone’s ID.
- Free Canada Roaming: Mint
Mobile customers will soon be able to enjoy unlimited talk and text
and 3Gb of high-speed data while in Canada – for FREE.3
- Mexico Roaming: In the
coming weeks, Ultra customers traveling to Mexico will have an
enhanced data roaming option in addition to the already included
Talk and Text on most plans.
Over time, T-Mobile will continue to find even more ways to
supercharge the Mint and Ultra customer experience–all on the same
leading 5G network they already enjoy.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains certain forward-looking statements
concerning T-Mobile. All statements other than statements of fact,
including information concerning future results, are
forward-looking statements. These forward-looking statements are
generally identified by the words “plan,” “anticipate,” “believe,”
“estimate,” “expect,” “intend,” “may,” “could” or similar
expressions. Such forward-looking statements include, but are not
limited to, statements about the benefits of the acquisition of
Ka’ena Corporation ("Ka'ena") and its subsidiaries, including
anticipated future financial and operating results and T-Mobile’s
objectives, expectations and intentions. There are several factors
which could cause actual plans and results to differ materially
from those expressed or implied in forward-looking statements. Such
factors include, but are not limited to, adverse economic,
political or market conditions in the U.S. and international
markets; negative effects of the acquisition on the market price of
T-Mobile’s common stock and on T-Mobile’s operating results,
including as a result of changes in key customer, supplier,
employee or other business relationships; costs or difficulties
related to the integration of Ka'ena’s operations and financial
reporting and internal controls into T-Mobile; effects of changes
in the regulatory environment in which T-Mobile operates; the risk
of litigation or regulatory actions; and other risks and
uncertainties detailed in T-Mobile’s Annual Report on Form 10-K for
the fiscal year ended December 31, 2023, including in the sections
thereof captioned “Risk Factors” and “Cautionary Statement
Regarding Forward-Looking Statements,” as well as in its subsequent
reports on Form 8-K and Form 10-Q, all of which are filed with the
SEC and available at www.sec.gov and www.t-mobile.com.
Forward-looking statements are based on current expectations and
assumptions, which are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed in
or implied by such forward-looking statements. Given these risks
and uncertainties, persons reading this communication are cautioned
not to place undue reliance on such forward-looking statements.
T-Mobile assumes no obligation to update or revise the information
contained in this communication (whether as a result of new
information, future events or otherwise), except as required by
applicable law. References to our and the SEC’s website are
inactive textual references only. Information contained on our and
the SEC’s website is not incorporated by reference in this
communication and should not be considered to be a part of this
communication.
Advisors
Cleary Gottlieb Steen & Hamilton LLP served as legal advisor
to T-Mobile. LionTree LLC served as lead financial advisor with
BofA Securities and TAP Securities LLC also serving as financial
advisors to Ka’ena Corporation. Latham & Watkins LLP served as
lead legal counsel and advisor with Bernstein Shur also serving as
legal counsel for Ka’ena Corporation.
About T-Mobile
T-Mobile US, Inc. (NASDAQ: TMUS) is America’s supercharged
Un-carrier, delivering an advanced 4G LTE and transformative
nationwide 5G network that will offer reliable connectivity for
all. T-Mobile’s customers benefit from its unmatched combination of
value and quality, unwavering obsession with offering them the best
possible service experience and undisputable drive for disruption
that creates competition and innovation in wireless and beyond.
Based in Bellevue, Wash., T-Mobile provides services through its
subsidiaries and operates its flagship brands, T-Mobile, Metro by
T-Mobile and Sprint. For more information please visit:
https://www.t-mobile.com
1 $15/mo Commitment: Upfront payment for multi-month plan
required. Commitmint excludes taxes & fees, select promotions,
third-party charges, per-use charges, add-on features, &
network management practices; rate plan features may vary. 2
3-Months of Unlimited Premium Wireless for $15/mo: Upfront
payment of $45 for 3-month plan (equivalent to $15/mo) required.
Promotional rate for first 3 months only; then full-price plan
options available. Taxes and fees extra. Limited time new customer
offer; non-transferable & no cash value. Unlimited customers
only >40GB/mo will experience lower speeds. Videos stream at
~480p. See full terms at mintmobile.com. 3 Free Roaming in
Canada: Not for extended international use; service may be
terminated or restricted for excessive roaming. Coverage not
available in some areas.
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Media Contacts T-Mobile US, Inc. Media Relations
MediaRelations@t-mobile.com
Investor Relations Contact T-Mobile US, Inc.
investor.relations@t-mobile.com https://investor.t-mobile.com
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