Pryte has not yet launched its service publicly but the focus of its services will to provide short term access passes/tokens to users for accessing internet app like Foursquare or Facebook.
The primary reason for acquiring Pryte is that Facebook is interested in the team behind Pryte which is led by Markku Makelainen.
This acquisition is in line with Facebook’s commitment to bring internet to people living in under-developed parts of the World. Facebook is already working with many wireless operators to bring free Facebook access to users.
Mark Zuckerberg has also announced earlier that the next big target of his company is to connect the next 5 billion people to the internet.
A Facebook spokesman has not confirmed the price of the deal but has said that the deal is likely to be closed in a month time.