T-Mobile Enhances Marketing Capabilities and Expands Advertising Solutions with Close of Vistar Media and Announcement of Blis Acquisitions

Rhea-AI Summary

T-Mobile (NASDAQ: TMUS) has completed two strategic acquisitions to enhance its advertising capabilities: Vistar Media, a digital out-of-home (DOOH) advertising technology provider, and Blis, a privacy-centric advertising solutions company.

These acquisitions are expected to contribute approximately $250 million in revenue, $75 million in EBITDA, and $50 million in free cash flow this year. T-Mobile paid $175 million in cash for Blis, with the transaction closing on March 3, 2025. The Vistar Media acquisition was completed on February 3, 2025.

The additions will strengthen T-Mobile's advertising business, which currently generates over $1 billion in annual revenue. Vistar's programmatic platform will enhance DOOH advertising capabilities, while Blis will provide cookie-less technology and targeting capabilities for omnichannel advertising.

Positive

• Expected $250M revenue contribution from acquisitions
• $75M EBITDA and $50M free cash flow addition
• Advertising business already generates $1B+ annual revenue
• Enhanced DOOH advertising capabilities through Vistar
• Cookie-less targeting technology acquisition through Blis

Negative

• Cash outlay of $175M for Blis acquisition
• Integration costs and risks with two simultaneous acquisitions

Insights

Digital Advertising Expert

T-Mobile's strategic acquisitions of Vistar Media and Blis significantly enhance its advertising technology stack at a reasonable cost. The $175 million paid for Blis appears strategic when considering the expected $250 million in combined revenue and $75 million in EBITDA contribution this year alone.

What's particularly notable is how these acquisitions address critical gaps in the digital advertising ecosystem. Vistar brings programmatic capabilities to digital out-of-home advertising—a growing channel as traditional digital targeting faces challenges. Meanwhile, Blis provides cookie-less targeting technology at a critical moment when the industry is transitioning away from third-party cookies.

T-Mobile is leveraging its unique assets—particularly consumer data and its 5G network—to build a differentiated advertising business. The company's disclosure that its advertising solutions already generate over $1 billion in annual revenue demonstrates this isn't a speculative venture but an expansion of a proven business line.

These acquisitions reflect a strategic pivot beyond T-Mobile's core telecommunications business into higher-margin digital services. While the $250 million revenue contribution is modest relative to T-Mobile's overall size, the 30% EBITDA margin ($75 million on $250 million) indicates this is a significantly more profitable business than traditional telecom services, making it an attractive diversification play.

Financial Analyst

T-Mobile's expansion in advertising technology through these acquisitions represents intelligent capital allocation. The $175 million cash payment for Blis (with the Vistar price undisclosed) is expected to yield $250 million in revenue, $75 million in EBITDA, and $50 million in free cash flow this year—suggesting an immediate positive return on investment.

The financial metrics reveal a high-margin business opportunity. The implied 30% EBITDA margin from these acquisitions significantly exceeds T-Mobile's overall EBITDA margins, which typically hover around 20-25% for telecommunications operations. This margin expansion opportunity is likely a key driver behind the strategy.

While the $250 million revenue contribution is minimal compared to T-Mobile's overall revenue base, it represents meaningful growth for their advertising business. The company's disclosure that its advertising solutions already generate over $1 billion annually indicates these acquisitions could expand that segment by roughly 25%.

The $50 million in free cash flow contribution is particularly significant, representing a 20% FCF margin. This strong cash generation profile suggests these businesses require ongoing capital investment after acquisition, making them attractive additions to T-Mobile's portfolio as the company continues to optimize its capital structure following the Sprint merger integration.

Adding Vistar and Blis to T-Mobile’s Advertising Solutions business strengthens the Un-carrier’s digital advertising portfolio and unlocks better experiences for consumers while creating more comprehensive and impactful services for marketers

BELLEVUE, Wash.--(BUSINESS WIRE)-- T-Mobile (NASDAQ: TMUS) today announced the completion of its acquisition of Vistar Media, the leading provider of technology solutions for digital out-of-home (DOOH) advertising, and the acquisition of Blis, an innovative provider of powerful and privacy-centric advertising solutions. These strategic acquisitions reinforce the company’s commitment to transforming advertising through its T-Mobile Advertising Solutions (T-Ads) business by creating comprehensive solutions that unlock better, more relevant ad experiences for consumers, greater value for marketers, and meaningful growth for the business.

Adding Vistar and Blis to T-Mobile’s Advertising Solutions business strengthens the Un-carrier’s digital advertising portfolio and unlocks better experiences for consumers while creating more comprehensive and impactful services for marketers (Graphic: Business Wire)

“Acquiring Vistar Media and Blis marks a significant step forward in T-Mobile’s strategy to create truly transformative advertising solutions that are built by marketers for marketers,” said JP Colaco, SVP and Chief T-Ads Officer, T-Mobile. “Advertising is at its best when it cultivates deeper, authentic connections between brands and consumers. With the addition of Vistar and Blis, T-Mobile has an incredible opportunity to deliver this experience along the customer journey with privacy-centric solutions that drive targeted, measurable outcomes.”

Vistar's advanced programmatic out-of-home platform will help T-Ads change the game in DOOH advertising. With T-Mobile’s unique customer insights and data, Vistar’s end-to-end tech platform and scale will seamlessly connect digital messaging to real-world environments, amplifying reach and engagement and improving the measurability of campaigns. Blis will bolster the Un-carrier’s ability to deliver more addressable omnichannel advertising with future-proof, cookie-less technology and targeting capabilities, enhancing T-Mobile’s own marketing efforts and offering a comprehensive, privacy-centric solution for other brands. By directly connecting advertisers to ad inventory across any screen, the Blis platform complements T-Mobile’s end-to-end capabilities, making the company’s campaigns more efficient and empowering advertisers to reach more consumers in a fragmented advertising landscape, especially as traditional signals like cookies continue to diminish.

“Joining T-Mobile marks an exciting new chapter for Blis and a significant step forward in our mission to reshape advertising with privacy-first, future-proof technology,” said Greg Isbister, CEO, Blis. “With Blis’ advanced omnichannel targeting capabilities alongside T-Mobile’s scale and rich dataset, we’re even better positioned to directly connect advertisers to premium inventory across all screens. As traditional signals reduce, we’re proud to be at the forefront of innovation, ensuring advertisers can continue to reach and engage audiences effectively.”

“As one of the largest advertisers in the U.S., T-Mobile manages complex campaigns across multiple business units and products,” said Vinayak Hegde, Consumer Chief Marketing Officer, T-Mobile. “That means we need ad solutions that are both consumer-friendly and capable of delivering results at scale. Our early pilots with Blis showed us the power of its addressability, especially on mobile devices where standard identifiers fall short. It’s a key addition to our broader suite of ad tech partners and we’re excited about its potential—not just for T-Mobile’s own campaigns, but for other marketers as well.”

As part of its strategic framework for growing new businesses, the Un-carrier leverages its unique assets – embedded customer relationships, broad distribution, strong brand affinity and the most advanced 5G network – to unlock opportunities that meet clear customer needs in new areas. In the advertising space, the company has successfully evolved internal innovations into distinctive solutions that generate over $1 billion in annual revenue. These acquisitions further expand and accelerate the growth of this business and are expected to contribute approximately $250 million in revenue, $75 million in EBITDA, and $50 million in free cash flow this year, representing additional upside to the company’s financial guidance.

T-Mobile paid approximately $175 million in cash to acquire Blis, before customary adjustments. The transaction successfully closed on March 3, 2025. T-Mobile’s acquisition of Vistar Media was completed on February 3, 2025.

Advisors

Allen & Company LLC is serving as T-Mobile’s financial advisor with Cleary Gottlieb Steen & Hamilton LLP serving as T-Mobile’s legal counsel on the two transactions. Canaccord Genuity is serving as financial advisor to Vistar Media with Lowenstein Sandler LLP as Vistar Media’s legal counsel. Houlihan Lokey is serving as financial advisor to Blis with DLA Piper serving as Blis’ legal counsel.

About T-Mobile US, Inc.

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 Mint Mobile. For more information please visit: https://www.t-mobile.com.

About Blis

Blis is a radically different advertising platform that structures data based on geography rather than identity, linking real-world actions to digital behaviors. Our advanced omnichannel targeting capabilities enable advertisers to connect with audiences often missed by ID-based solutions, ensuring greater accuracy and efficiency. Blis remains at the forefront of innovation, delivering future-proof technology that drives measurable performance and helps advertisers reach and engage audiences across all screens. Founded in the UK in 2004, Blis employs over 300 global employees across 14 offices in 11 countries.

About Vistar Media

Vistar Media is the home of out-of-home – providing brands, marketers and media owners with the world’s first truly intelligent platform for buying and selling OOH. Vistar hosts the world’s most extensive digital out-of-home inventory globally, offering the scale, data and expertise that allow brands to capture a better kind of attention. With a full suite of platforms to choose from – demand-side platform, supply-side platform, traditional OOH planning tool, ad server and OOH player– Vistar has built the world’s largest marketplace for OOH transactions. Headquartered in New York, Vistar has a presence in more than 30 countries, working with hundreds of brand marketers and media owner networks to power an OOH that’s both timeless and future-proof. For more information, visit www.vistarmedia.com or follow us on LinkedIn and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250304217173/en/

T-Mobile US, Inc. Media Relations

MediaRelations@t-mobile.com

T-Mobile Investor Relations Contact

investor.relations@t-mobile.com

https://investor.t-mobile.com

Blis Media Relations

abby.roulston@blis.com

Vistar Media Relations

publicrelations@vistarmedia.com

Source: T-Mobile US, Inc.

FAQ

How much revenue will T-Mobile's Vistar and Blis acquisitions generate in 2025?

The acquisitions are expected to contribute $250 million in revenue, $75 million in EBITDA, and $50 million in free cash flow in 2025.

What was the purchase price for T-Mobile's (TMUS) acquisition of Blis?

T-Mobile paid approximately $175 million in cash to acquire Blis, before customary adjustments.

When did T-Mobile (TMUS) complete the Vistar Media and Blis acquisitions?

T-Mobile completed the Vistar Media acquisition on February 3, 2025, and the Blis acquisition on March 3, 2025.

How much annual revenue does T-Mobile's advertising business currently generate?

T-Mobile's advertising business currently generates over $1 billion in annual revenue.

What technologies will Blis bring to T-Mobile's (TMUS) advertising solutions?

Blis will provide future-proof, cookie-less technology and targeting capabilities for omnichannel advertising with privacy-centric solutions.