Xplornet raises $230 million to build out its rural broadband platforms

MARKHAM – In one of the largest Canadian telecom financing announcements this year, Xplornet Communications (formerly Barrett Xplore), announced this week it has successfully completed a $230 million round of private financing.The funds will be used to support and aggressively expand Xplornet's broadband network across Canada to the 2.4 million households beyond the big cities and towns that do not have access to real, affordable broadband. A start-up just six years ago, Xplornet is now one of Canada's largest telecommunications companies."This is an investment in rural Canada that will be nothing less than transformative," said Xplornet's CEO John Maduri. "This...