One of Canada’s largest rural internet service providers has announced it’s biggest acquisition to date.
New Brunswick-based Xplornet Communications has entered an agreement to purchase Manitoba-based NetSet Communications.
“We are delighted to welcome NetSet customers to Xplornet,” said Allison Lenehan, president and CEO of Xplornet, in an Oct. 23 statement. “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.”
Headquartered in Brandon, NetSet is a privately-held company that was founded in 2001.
Xplornet says it will maintain the NetSet Communications name and retain “virtually all” NetSet’s employees and operations in Brandon and Winnipeg. NetSet’s founder and former CEO, Charlie Clark, has agreed to serve in an advisory role supporting Xplornet’s business operations on the prairies.
NetSet customers will get access to Xplornet’s satellite internet, home phone and mobile wireless service next year, says Xplornet.
The deal will support Xplornet’s entry into the cell phone market in Manitoba in 2018.
To gain regulatory approval of its purchase of MTS earlier this year, Bell agreed to sell 24,700 customers, as well as wireless spectrum and several retail outlets in Brandon and Winnipeg, to Xplornet.
Xplornet will gain access to NetSet’s tower network, which has recently been upgraded to LTE standards.
Financial terms of the deal were not announced. Closing is set for October 31, 2017.