UScellular wireless operations
2025
$4.4B
Why
Added UScellular's wireless customers, stores and part of its spectrum, mainly in rural and midwestern markets; announced May 2024.
T-Mobile US, Inc.
TelecommunicationsFounded 1994- HQ today: Bellevue, Washington, United States
Reviewed by Swet Parvadiya
Company data updated: October 2026
Acquisitions
T-Mobile Acquisitions
4
Major Deals Covered
$33.3B
Disclosed Deal Value
What are T-Mobile's biggest acquisitions?
T-Mobile's largest disclosed acquisition here is Sprint for $26B in 2020. This page covers 4 major deals from 2013 to 2025, each with its price where disclosed and the reason behind it.
- Major deals covered
- 4
- Largest deal
- Sprint ($26B)
- First deal
- 2013
- Most recent
- 2025
| Company | Year | Price | Purpose |
|---|---|---|---|
| Sprint | 2020 | $26.0B | T-Mobile merged with Sprint in an all-stock deal valued at about $26 billion to gain Sprint's 2.5 GHz mid-band spectrum and national scale for 5G. |
| MetroPCS | 2013 | $1.5B | The 2013 combination with MetroPCS added a large prepaid business and spectrum in dense urban markets; MetroPCS shareholders received $1.5 billion in cash. |
| Ka'ena Corporation (Mint Mobile, Ultra Mobile) | 2024 | $1.4B | Added the digital-first Mint Mobile and Ultra Mobile prepaid brands. |
| UScellular wireless operations | 2025 | $4.4B | Added UScellular's wireless customers, stores and part of its spectrum, mainly in rural and midwestern markets; announced May 2024. |
- What companies has T-Mobile bought?
- Major acquisitions by T-Mobile documented here include Sprint (2020), UScellular wireless operations (2025), MetroPCS (2013) and Ka'ena Corporation (Mint Mobile, Ultra Mobile) (2024).
- What is T-Mobile's most recent acquisition?
- The most recent T-Mobile acquisition documented here is UScellular wireless operations, in 2025, for $4.4B.
Ka'ena Corporation (Mint Mobile, Ultra Mobile)
2024
$1.4B
Why
Added the digital-first Mint Mobile and Ultra Mobile prepaid brands.
Sprint
2020
$26.0B
Why
T-Mobile merged with Sprint in an all-stock deal valued at about $26 billion to gain Sprint's 2.5 GHz mid-band spectrum and national scale for 5G.
Impact
This historic transaction instantly transformed T-Mobile's network capacity, allowing it to leapfrog Verizon and AT&T in 5G deployment while absorbing millions of new subscribers.
Outcome
The deal closed April 1, 2020 and cut the national carrier field from four to three. As a condition, Boost Mobile and some spectrum were sold to DISH. Sprint's spectrum became the backbone of T-Mobile's Ultra Capacity 5G.
MetroPCS
2013
$1.5B
Why
The 2013 combination with MetroPCS added a large prepaid business and spectrum in dense urban markets; MetroPCS shareholders received $1.5 billion in cash.
Impact
This strategic, targeted acquisition immediately provided T-Mobile with an established presence in budget wireless, allowing it to cross-sell cheaper plans while absorbing Metro's critical spectrum.
Outcome
The deal created the publicly traded T-Mobile US, Inc. and Metro by T-Mobile became its main prepaid brand.
T-Mobile US, Inc.'s Growth & Acquisition Strategy
T-Mobile is growing by adding postpaid customers, expanding home internet, pushing deeper into rural and smaller markets, cross-selling prepaid brands, building business and government accounts, using Mint Mobile and Ultra Mobile for value segments, and monetizing 5G capacity through wholesale, fixed wireless, and enterprise connectivity.
How T-Mobile US, Inc. Makes Money
T-Mobile earns most of its money from recurring monthly wireless service: postpaid phone and multi-line plans, prepaid brands such as Metro by T-Mobile and Mint Mobile, and wholesale access sold to MVNOs. Service revenue was $71.3 billion of its $88.3 billion 2025 total; the rest comes mainly from device sales and installment financing. The same 5G network also carries 5G Home Internet (fixed wireless access), business and government connections, and IoT traffic, while fiber joint ventures with Lumos and Metronet add wired broadband. Spectrum depth lets T-Mobile sell more capacity on towers it has already built, which is why fixed wireless and business lines add revenue without a separate network.
T-Mobile Acquisitions FAQ
What was the landmark $26 billion merger between T-Mobile and Sprint in 2020?
In April 2020, T-Mobile completed its $26 billion all-stock merger with Sprint Corporation after winning federal court approval in a lawsuit filed by 14 state attorneys general. The transaction absorbed Sprint's 2.5 GHz mid-band spectrum and over 50 million customers, creating a unified telecom titan.
What was the reverse merger with MetroPCS in 2013 and why was it pivotal?
In May 2013, T-Mobile completed a reverse merger with prepaid carrier MetroPCS Communications. MetroPCS shareholders received $1.5 billion in cash and a 26% stake in the combined public company, listing T-Mobile on the NASDAQ under ticker symbol TMUS and providing massive prepaid scale.
What was T-Mobile's acquisition of Mint Mobile and Ka'ena Corp in 2024?
In May 2024, T-Mobile acquired Ka'ena Corporation, parent company of direct-to-consumer digital prepaid wireless provider Mint Mobile (part-owned by Ryan Reynolds) and Ultra Mobile, for up to $1.35 billion, integrating their high-growth online subscriber acquisition engine.
What was T-Mobile's $4.4 billion acquisition of UScellular assets in 2024?
In May 2024, T-Mobile agreed to acquire substantially all of United States Cellular Corporation's (UScellular) wireless operations, stores, and approximately 30% of its wireless spectrum licenses for $4.4 billion in cash and assumed debt, expanding its rural coverage footprint.
What was the acquisition of SunCom Wireless in 2008?
In February 2008, T-Mobile USA acquired regional carrier SunCom Wireless Holdings for $2.4 billion in cash and assumed debt, expanding its native GSM wireless network coverage across the Carolinas, Georgia, Puerto Rico, and the U.S. Virgin Islands.
How did Deutsche Telekom acquire VoiceStream Wireless in 2001?
In May 2001, Deutsche Telekom acquired VoiceStream Wireless and Powertel for approximately $35 billion, giving the German telecom giant its long-sought entry into the massive United States mobile market and establishing the foundation for T-Mobile USA.
What is T-Mobile's fiber joint venture with Lumos?
In April 2024, T-Mobile formed a joint venture with private equity firm EQT to acquire fiber-to-the-home provider Lumos. T-Mobile committed $950 million to fund fiber network builds to 3.5 million homes, allowing T-Mobile to sell gigabit fiber broadband to its wireless customer base.
What is T-Mobile's joint venture acquisition of Metronet?
In July 2024, T-Mobile partnered with KKR to acquire fiber broadband provider Metronet for $4.9 billion in a joint venture. The transaction expanded T-Mobile's fiber broadband footprint across more than 2 million homes in 17 Midwestern and Southern states.
What regulatory concessions was T-Mobile forced to make to close the Sprint merger?
To secure DOJ antitrust approval for the Sprint deal, T-Mobile was required to divest Sprint's prepaid business (Boost Mobile) and selected wireless spectrum to DISH Network for $5 billion, with the goal of creating a fourth national facilities-based competitor.
How much has T-Mobile invested in FCC spectrum auctions?
T-Mobile has invested tens of billions in FCC spectrum auctions, spending $8 billion in Auction 1000 (600 MHz low-band), $9.3 billion in Auction 107 (C-band), and $2.8 billion in Auction 108 (2.5 GHz), systematically locking up the nation's premier 5G airwaves.
What technology startup acquisitions has T-Mobile executed for advertising and AI?
T-Mobile acquired Octopus Interactive in 2022 (in-vehicle video screens for Uber and Lyft) and ad-tech platform Pushspring in 2019, bolstering T-Mobile Advertising Solutions with proprietary mobility analytics and digital display assets.
What is T-Mobile's future M&A roadmap in the converging telecom landscape?
T-Mobile is prioritizing fiber infrastructure joint ventures, opportunistic rural spectrum license purchases, and edge computing partnerships that expand 5G Home Internet and enterprise network slicing without over-leveraging its investment-grade balance sheet.
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