Canadian broadband service provider Xplornet Communications Inc. says it has reached an agreement to purchase Internet access business NetSet Communications. The largest in its history, the acquisition will advance Xplornet's continued Western Canadian expansion, says the company. Terms of the deal were not disclosed.
Founded in 2001, NetSet is a privately held telecommunications company based in Brandon, Manitoba that delivers next-generation broadband services across the province. By expanding its wireless Internet footprint, and adding satellite internet, home phone, mobile wireless service, and other new products in 2018, Xplornet will enhance NetSet's present services. As NetSet recently upgraded its network to the latest Long-Term Evolution (LTE) technology, this expansion will enable Xplornet to provide a wider range of mobile options to Manitoba in 2018.
"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."
Xplornet says Charlie Clark, NetSet's founder, and former CEO, has agreed to continue in an advisory role for Xplornet's business operations in Manitoba. Xplornet will retain the NetSet Communications tradename, as well as nearly all NetSet employees and business operations in both Brandon and Winnipeg, says the provider. Agreements have been signed, and the acquisition is scheduled to close on October 31, 2017.
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