Wireless network operator T-Mobile US, Inc. (TMUS)said on Wednesday that it has inked a deal to acquire Ka'ena Corporation including its units and brands, for up to $1.35 billion in a combination of 39 percent cash and 61 percent stock.
However, T-Mobile noted that the actual price to be paid will be based upon Ka'ena's performance during certain periods before and after the closing.
T-Mobile US expects transaction to slightly add to both core adjusted EBITDA and free cash flow, without having any impact on the company's 2023 outlook or its ongoing share repurchase drive.
The list of brands and units to be acquired by TMUS include, Mint Mobile, a direct-to-consumer prepaid wireless brand, Ultra Mobile, a wireless service offering international calling options, and wholesaler Plum.
Mike Sievert, CEO of T-Mobile, said: "Mint has built an incredibly successful digital direct-to-consumer business that continues to deliver for customers on the Un-carrier's leading 5G network and now we are excited to use our scale and owners' economics to help supercharge it - and Ultra Mobile - into the future…"
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