CPE News (9/1/2020) – Xplornet Communications Inc., a portfolio company of Stonepeak Infrastructure Partners, has acquired F6 Networks Inc. from founders Gary Keenan, Tom Rivington and Sean Jones. Financial terms were not disclosed.
Fredericton, New Brunswick based F6 Networks owns and operates a 1,600 km fibre backbone network in New Brunswick and Nova Scotia, providing services to enterprise customers and carriers in the region.
The acquisition of F6 Networks will position Xplornet as a significant independent fibre provider in Atlantic Canada, with F6’s fibre-rich network supporting Xplornet’s current and future hybrid fibre wireless deployment plans in New Brunswick, Nova Scotia and Prince Edward Island.
Woodstock, New Brunswick based Xplornet Communications Inc. is Canada’s largest rural-focused broadband service provider.
In June 2020, Stonepeak Infrastructure Partners acquired a controlling stake in Xplornet from Sandler Capital, Barrett Corporation, Werklund Family Office, McKenna Gale Capital, Catalyst Investors. Steve Weed and his fund WaveDivision Capital remain material investors in the business.
photo credit: F6 Networks
Xplornet Acquires Fibre Company F6 Networks
Xplornet becomes significant fibre provider in Atlantic Canada, while accelerating the company’s deployment plans for its hybrid fibre wireless network to serve homes and businesses in New Brunswick, Nova Scotia and Prince Edward Island
WOODSTOCK, NB, Sept. 1, 2020 /CNW/ – Xplornet Communications Inc., Canada’s largest rural-focused broadband service provider, today announced the closing of an agreement to acquire F6 Networks Inc., a fibre provider based in New Brunswick.
F6 Networks owns and operates a 1,600 km fibre backbone network in New Brunswick and Nova Scotia, providing services to enterprise customers and carriers in the region. The acquisition of F6 Networks will position Xplornet as a significant independent fibre provider in Atlantic Canada, with F6’s fibre-rich network supporting Xplornet’s current and future hybrid fibre wireless deployment plans in New Brunswick, Nova Scotia and Prince Edward Island.
“We are excited at the prospect of joining F6’s robust fibre network to Xplornet’s cutting-edge hybrid fibre wireless deployments,” said Allison Lenehan, President and CEO of Xplornet. “This acquisition will accelerate our plans in Atlantic Canada, to deliver unprecedented speeds and unlimited data plans at affordable prices for rural customers.”
Both proudly headquartered in New Brunswick, Xplornet and F6 Networks share a commitment to expanding connectivity and supporting technological innovation in Atlantic Canada. With this acquisition, Xplornet will solidify its position as a national champion for rural broadband, with deep roots in its home province.
“Atlantic Canada is our home, and we want to see its people and businesses prosper by having access to some of the best networks in the world,” said Gary Keenan, Co-Founder and Chairman of F6 Networks. “We are pleased to see F6 Networks acquired by Xplornet to continue its evolution as a champion for connectivity in this province and across Canada.”
Today’s announcement builds on the investments in fibre and 5G-ready wireless technology already made by Xplornet throughout Canada. Xplornet announced last year that it will invest $500 million over five years to deploy state-of-the-art hybrid fibre wireless and satellite technology in its facilities-based network in order to deliver broadband services to rural Canadians.
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 fixed and mobile broadband solutions to rural customers at work, home and play across Canada. Today, Xplornet offers voice and data communication services through its unique hybrid fibre wireless and satellite network that connects Canadians to what matters.
SOURCE Xplornet Communications Inc.
For further information: Steve Van Groningen, Manager, Corporate Affairs, email@example.com