Red Pocket Mobile to acquire FreedomPop from STS Media.

Prepaid wireless provider STS Media agreed to sell FreedomPop to Red Pocket Mobile, as STS readies itself to place a bid for Sprint Corp's Boost Mobile. Financial terms were not disclosed. STS Chief Executive Stephen Stokols said proceeds from the sale will be invested in the technology that had powered FreedomPop and will put STS in a better position to partner with other companies or private equity groups to aggressively pursue Boost. "We feel that Red Pocket was the best company to grow the FreedomPop brand and consumer experience for our existing users. We look forward to supporting their continued growth and focusing more exclusively on our exploding SaaS business providing companies with unique acquisition, up-sell and digital transformation capabilities," he added.