Xplornet to be acquired by Stonepeak in $2bn deal: G&M

Xplornet Communications, a Woodstock, New Brunswick-based provider of rural broadband services, has reportedly struck a deal to be acquired by Stonepeak Infrastructure Partners.

Xplornet Communications Inc, a Woodstock, New Brunswick-based provider of rural broadband services, has struck a deal to be acquired by Stonepeak Infrastructure Partners, according to a report by the Globe and Mail. The deal is expected to value the company at about US$2 billion, up from the US$1.5 billion estimated in a December report by PE Hub. Xplornet is currently backed by Catalyst Investors, Sandler Capital Management and Werklund Family Office.