STS Media will sell FreedomPop ahead of its Boost Mobile bid: Reuters

Reuters reports that the transaction values FreedomPop in the “high eight figures.” (FreedomPop)

FreedomPop owner STS Media is preparing to sell off the prepaid wireless FreedomPop brand, as the parent company readies its potential bid for Sprint’s Boost Mobile.

STS Media will sell FreedomPop to Red Pocket Mobile, according to a report from Reuters, and will reinvest proceeds from the sale into STS Media’s technology. The company hopes to partner with other companies or private equity groups to pursue Boost Mobile.

An unnamed source told Reuters the transaction values FreedomPop in the “high eight figures.”

eBook

Get the keys to unlock the full potential of 5G

Are you prepared to navigate the maze of challenges involved in deploying 5G infrastructure? F5 can guide you past the pitfalls and help you unlock the full promise of 5G. Download this whitepaper to learn how to navigate this challenge.

RELATED: Sprint's Boost Mobile likely to be valued between $3B and $4B: Reuters

Sprint and T-Mobile recently won FCC approval for the proposed $26.5 billion merger, with the condition that Sprint must sell Boost Mobile. Sprint and T-Mobile are now awaiting approval from the Department of Justice before completing the merger.

STS Media CEO Stephen Stokols told Reuters last month he was advising a private equity group on a bid for Boost Mobile. Stokols said the unnamed firm may try to combine FreedomPop with Boost if successful, at the time.

More recently, STS Media said it was in conversation with several firms, including at least one company that owns wireless infrastructure, about partnering in a bid for Boost Mobile.

RELATED: Amazon is considering a bid for Boost Mobile

Other parties interested in acquiring Boost Mobile include the company’s original founder, Peter Adderton; prepaid wireless company Q Link, and Amazon.

Suggested Articles

Global Data principal analyst Ed Gubbins thinks more real-world activity like this could help Nokia get skeptical operators on board with vRAN.

Keysight Technologies recently announced that it has joined the multi-party 6G Flagship Program supported by the Academy of Finland and led by the University…

A new investigative study by the Chicago Tribune found some models of smartphones tested above the legal limit for RF radiation exposure. Device makers,…