Telstra has acquired Boost Mobile, a youth-oriented prepaid mobile services provider that relies on the telco giant's network.
The purchase price was officially undisclosed, but Boost founder and chairman Peter Adderton reposted on X a news report indicating it was more than $200 million.
Mr Adderton founded Boost in 2000. It originally operated on the Optus network and switched to Telstra more than a decade ago.
Telstra has been handling most operational parts of the business, including network access, product development, pricing and customer service, while Boost was responsible for marketing and branding.
Telstra group executive for consumer Brad Whitcomb said the acquisition would enable Telstra to deliver on its multi-brand strategy, while Mr Adderton said the acquisition was the natural evolution of the brand.
There would be no change for Boost customers as part of the acquisition, and most Boost Mobile employees would be integrated into Telstra as part of a standalone team, Telstra said.
