Xplornet To Be Acquired By U.S. Company
Mar 1, 2020
by Brad Perry
A New Brunswick-based internet service provider is being acquired by a U.S. company.
Xplornet has entered into a binding agreement with private-equity firm Stonepeak Infrastructure Partners.
The transaction, announced Thursday, must still be approved and is expected to close in the coming month. Xplornet hasn’t officially released the value of the sale, but Bloomberg has reported, citing people familiar with the matter, that it will be sold for about $2 billion.
Stonepeak’s investment will position Xplornet to accelerate the development of our facilities-based broadband network and services, enabling much faster speeds, including unlimited
data plans at affordable prices for rural Canada.
Lenehan and the current executive team will continue leading Xplornet and the company will remain headquartered in Woodstock, N.B.
Xplornet provides fixed and wireless internet to rural customers across the country.
data plans at affordable prices for rural Canada.”
For more information follow the link below:
https://huddle.today/xplornet-to-be-acquired-by-u-s-company/