Ryan Reynolds is about to make a lot of money.
T-Mobile announced Wednesday that it will acquire Mint Mobile in a larger deal worth up to $1.35 billion. Mint Mobile’s parent company, Ka’ena Corporation, will also be acquired, as will Ultra Mobile, an international calling service, and wireless wholesaler Plum.
Reynolds, who bought a minority stake in Mint Mobile in 2019, will continue to serve as a spokesperson in his “creative role on behalf of Mint,” according to a press release announcing the deal.
“I never imagined owning a wireless company, and I certainly never imagined selling it to T-Mobile,” Reynolds said on Twitter on Wednesday. “Life is odd, and I’m extremely proud and grateful.”
Reynolds described his decision to invest in Mint as “a little unconventional” at the time. “Celebrities typically invest in high-end products such as skincare brands or delectable gin companies,” he explained.
According to its website, Mint Mobile was founded in 2016 with the goal of providing a “affordable, premium wireless” service directly to consumers. Reynolds stated in his 2019 statement that he was “excited to champion a more practical approach to the most essential technology.”
With the acquisition of Mint Mobile, T-Mobile hopes to strengthen its own prepaid services. In a YouTube video featuring Reynolds on Wednesday, CEO Mike Sievert assured customers that Mint’s $15 per month pricing plan would remain in place. The brand’s two founders will also remain to manage what will “generally operate as a separate business unit,” according to the release.
“In the long run, we’ll benefit from applying the marketing formula Mint has become known for across more parts of T-Mobile,” Sievert wrote.
The transaction is expected to be completed later this year, with the final price contingent on Ka’ena’s performance.