Accelerating wireless and satellite delivery to rural areas
The largest rural broadband provider in Canada, Xplornet Communications Inc., announced the completion of its sale to U.S.-based Stonepeak Infrastructure Partners.
The Xplornet representatives say that the deal will strengthen the execution of Xplornet’s plan to accelerate investment in its national hybrid fibre, wireless, and satellite broadband network for subscribers in rural Canada.
“For our customers, this means unprecedented speeds, unlimited data plans, and 5G services at affordable prices,” says President and CEO of Xplornet, Allison Lenehan. “Rural Canadians deserve access to the same quality of broadband as in urban Canada. It is time to go faster,”.
The new owners, Stonepeak Infrastructure Partners, is a North American focused infrastructure firm that manages $24.4 billion USD of assets for its investors (as of May 22, 2020).
Stonepeak is committed to supporting the existing Xplornet business plan. Lenehan will continue leading Xplornet and the company will remain headquartered in New Brunswick. In 2019 Xplornet announced an $500-million investment strategy over five years to deploy state-of-the-art hybrid fibre wireless and satellite technology to rural communities across Canada.
Xplornet Communications Inc. is one of Canada’s leading broadband service providers. For over a decade, Xplornet has provided innovative fixed and mobile broadband solutions to rural customers at work, home and play across Canada.