WOODSTOCK, NB – Rural broadband provider Barrett Xplore has received a $55 million private investment that it says will allow it “to move aggressively” to build Canada’s first national fourth-generation broadband network.
The new investment consists of $30 million from existing investors and $25 million in new equity investment from Catalyst Investors and Werklund Capital Corporation.
"The range and size of these investments are a clear endorsement of the Barrett Xplore Inc. mission, business model and vision of making Canada an international rural broadband leader", said CEO John Maduri, in a statement. "This investment allows us to finish the job we started: to bring affordable, robust broadband to every rural Canadian."
Barrett says that its 4G broadband network will cover all of rural Canada by combining a new 4G WiMAX network of roughly 1200 towers with a new satellite network using two new 4G satellites. The deployment of the 4G terrestrial-wireless deployment began this month in Quebec, and the satellites are expected to be launched in 2011 and 2012.
www.xplornet.com
www.catalystinvestors.com
www.werklundcapital.com
