It was announced yesterday morning that Telstra has acquired Boost Mobile. While the deal means that co-founder, Peter Adderton will exit the Australian market; his focus on Mobile X in the US may pay off here.

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,

Boost was the brains behind the branding and marketing. Now, it'll be integrated with Telstra and work as a "standalone team focused on continuing to deliver the Boost branded experience". It makes sense, as Telstra explains in the media release, that the telco giant is focusing on a multi-brand strategy.

Paul Keating holds a 29 per cent stake in Boost Mobile and is among the telco's biggest shareholders after co-founding the business in 2000.

Telecommunications giant Telstra will acquire Boost Mobile for almost $140 million – giving former prime minister Paul Keating a huge payday.