The acquisition, confirmed by Boost founder Peter Adderton on LinkedIn, is believed to be worth more than $100 million. Capacity has contacted Telstra for comment.
Boost Mobile offers SIM-only plans, with the vendor largely targeting younger users and is among the only mobile virtual network operators with access to the full Telstra mobile network across Australia.
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“Thank you team Boost Australia, and most importantly our Boost customers, you guys are incredible and I appreciate you all,” Adderton said on LinkedIn. “I know you had a choice of providers and choosing Boost was not taken for granted by our team at Boost Australia.”
Adderton founded Boost Mobile in 2000 to more affordable mobile services.
The Australian brand was then brought to the US in 2001 following the formation of a joint venture with Nextel Communications.
The Boost Mobile founder said the deal decision to sell means he can focus on his newest venture, MobileX, a mobile carrier that leverages AI to create custom plans for users, predict how much data customers need.
Adderton said: “Ever since I founded the Boost mobile Brand I wanted to build the first global Mobile Brand, I never was able to fully achieve that dream of giving consumers all over the world a choice and a voice with the Boost brand.
“Boost has given me an incredible 20-plus years of fun, adventure, many highs and some lows, but in the end, I hope our Boost customers [know] we got up every day and fought for them that fight will continue for me and the whole team at MobileX, and I will finish the dream of building that global brand.”
Telstra’s Boost acquisition is expected to be completed later this month.
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