STS Media, a prepaid wireless provider, has agreed to sell its FreedomPop brand to Red Pocket Mobile. STS is reported as preparing to place a bid for Sprint Corp’s Boost Mobile. Amazon has also been reported to be interested in Boost. 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 and aggressively pursue Boost.
Boost sells prepaid phone plans that allow customers to purchase service at the beginning of the month and do not require a credit check.
STS Chief Executive is Stephen Stokols.