Cable / Telecom News

Xplornet to be acquired by U.S. private equity firm in US$2 billion deal, say reports

WOODSTOCK, N.B. — According to reports from The Globe and Mail and Bloomberg, rural broadband and Manitoba mobile wireless provider Xplornet Communications has agreed to be acquired by New York-based private equity firm Stonepeak Infrastructure Partners. Both reports say the news comes from unnamed sources who are familiar with the matter. The Bloomberg report says the acquisition deal is worth about US$2 billion, including debt. According to the sources, the deal could be announced as soon as next month. The news comes two weeks after Xplornet announced its acquisition of rural service provider Silo Wireless, based in Brantford, Ont.