Prime Communications, a Texas-based wireless retailer, acquired the Spring Mobile business, the Utah-based retailer of AT&T wireless phones, previously owned by GameStop, the world’s largest video game and gaming console retailer, for $700m, excluding transaction fees and subject to customary working capital and indebtedness adjustments. "This transaction enables GameStop to enhance our performance with an increased focus on the video game industry and the rapidly-growing collectibles space. These are areas where we have considerable experience and where we are well positioned to capitalize on our competitive position," said Dan DeMatteo, executive chairman of GameStop's board of directors. "Our board continues to review strategic and financial alternatives to enhance shareholder value and we look forward to providing an update on the process at the appropriate time."