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The sale has been brokered by Miles Advisory and is expected to be complete by the end of the month.
The youth-focused brand, led by Peter Adderton and CEO Jason Haynes, has been a staple of the motorsport landscape in Australia.
Boost has long been tied to Telstra under a partnership to use Australia’s largest telecommunications network.
Adderton took to social media to confirm the news, revealing plans to focus his attention on MobileX.
What the sale means for Boost Mobile and its interests in motorsport locally are yet to be revealed. Adderton did not respond to comment when approached by Speedcafe.
“Ever since I founded the Boost mobile brand I wanted to build the first global mobile brand,” he wrote.
“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.
“With today’s announcement of the sale of the Boost Mobile brand in Australia to Telstra I can now focus 100 percent of my energy on finishing that dream with the MobileX global 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 knew 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.
“I must also mention the incredible team at Boost Mobile Australia. Without their dedication and passion for the brand, Boost wouldn’t be 10 percent of the brand it is today, so thank you team Boost Australia.
“And most importantly our Boost customers you guys are incredible and I appreciate you all I know you had a choice of providers and choosing Boost was not taken for granted by our team at Boost Australia.”
Boost Mobile is the naming rights sponsor of the Gold Coast 500 and sponsored Matt Chahda Motorsport with its wildcard program in 2024 at the Sandown 500 and Bathurst 1000.
Adderton had planned to bring the MobileX brand to Supercars via an Adelaide 500 wildcard with Kyle Busch, which was ultimately scuppered.
