Telstra has today announced that it has acquired one of the most popular Telco brands, Boost Mobile. Boost Mobile has grown in popularity over the years for its fantastic value for money plans that benefit from already being on the Telstra network,

Sources close to the telco said Boost Mobile’s acquisition price was around $140 million, which did not include a meaningful deferred payment.

Boost Mobile services the prepaid mobile market and, in contrast to other MVNOs, operates on Telstra's entire mobile network while others utilise just its wholesale network. iTnews understands that Telstra paid roughly $100 million all-cash for Boost.

Telstra has paid $140 million to buy out Boost Mobile on Monday. Boost started almost 25 years ago and is one of the only resellers of Telstra's entire capital city and regional network. Boost was bought out by US mobile company Nextel,

Telstra boss Vicki Brady has signed an agreement to acquire the 24-year-old Boost Mobile, a mobile virtual network operator with more than 1 million customers.