Xplornet Communications Inc has agreed to acquire the internet access business of NetSet Communications, a Brandon, Manitoba telecommunications company. No financial terms were released for the deal, the largest in Xplornet’s history. Xplornet, a rural broadband service provider, said the deal will accelerate its expansion across Western Canada, add to its customer base, and support the launch of a mobile wireless service in Manitoba. Based in Woodstock, New Brunswick, Xplornet is backed by Catalyst Investors, Sandler Capital Management, Werklund Capital Corp and other investors.
Xplornet Communications Inc. Announces Major Investment in Manitoba
Deal with NetSet Communications underlines Xplornet’s continued growth; NetSet’s extensive LTE network supports Xplornet’s launch of mobile service in Manitoba
WOODSTOCK, NB, Oct. 23, 2017 /CNW/ – Xplornet Communications Inc. (“Xplornet”), one of Canada’s leading broadband service providers, is pleased to announce it has entered into an agreement for the purchase of the Internet access business of NetSet Communications (“NetSet”). Based in Brandon, Manitoba, NetSet is a privately held telecommunications company founded in 2001 providing next generation broadband services throughout the Province of Manitoba.
The acquisition is the largest in Xplornet’s history and accelerates the company’s continued expansion across Western Canada.
“Confidence in our economy is growing and this announcement is a great example that Manitoba is the right place for businesses to invest, build and grow,” said Blaine Pedersen, Minister of Growth, Enterprise and Trade. “The Manitoba government welcomes Xplornet’s investment in the province and its commitment to providing wireless broadband service for Manitobans.”
“We are delighted to welcome NetSet customers to Xplornet,” said Mr. Allison Lenehan, President and CEO of Xplornet. “We believe our customers share much in common. Like Xplornet, NetSet’s customers live in rural and remote communities and just outside of major centres. We are committed to continuing the proud legacy that NetSet has established in the Province of Manitoba and look forward to connecting Manitobans to more of what matters online.”
Xplornet will maintain the NetSet Communications tradename and retain virtually all NetSet’s employees and business operations in both Brandon and Winnipeg. NetSet’s founder and former CEO, Charlie Clark, has agreed to serve in an advisory role supporting Xplornet’s business operations in the Province.
Xplornet will complement NetSet’s existing services by further expanding its wireless Internet footprint, as well as adding new products, including satellite Internet, home phone, and mobile wireless service next year.
“This is great news for NetSet’s customers, employees, and for the Province of Manitoba,” said Tami-Rae Rourke (Clements), former Chief Operating Officer and a co-founder of NetSet. “Xplornet and NetSet share similar roots, and a similar passion for delivering fast, affordable Internet services in rural Canada, and it is our customers, and consumers across the Province who will benefit.”
Xplornet is one of Canada’s leading broadband service providers, with customers in every province and territory. Xplornet has been nationally recognized in four of the last five years as a Top Employer in Atlantic Canada, has been named a Canadian Telecom Employer of Choice for three years in a row. This year, Xplornet was named the best company to work for in Canada’s telecommunications sector by Forbes Magazine.
In 2016, NetSet’s success and rapid growth was recognized by the Manitoba Chamber of Commerce, while Charlie Clark was named Business Person of the Year by the Brandon Chamber of Commerce in March of the same year. Recently, NetSet has made considerable investments in its network including upgrading to the latest Long-Term Evolution (LTE) technology. This expansion will support Xplornet in offering more mobile choice to all Manitobans in 2018.
The agreements have been signed and the closing is set for October 31, 2017.
About Xplornet Communications Inc.
Headquartered in Woodstock, New Brunswick, Xplornet Communications Inc. is one of Canada’s leading broadband service providers. For over a decade, Xplornet has been providing innovative broadband solutions to rural customers at work, home and play across Canada. Today, Xplornet offers voice and data communication services through its unique wireless and satellite network that connects Canadians to what matters.
For further information: James Maunder, Vice President, Public Affairs and Communications, (613) 266-2250, James.Maunder@corp.xplornet.com
Photo courtesy of Reuters