Barrett Xplore Inc., provider of Xplornet Internet services, has announced that it has secured a series of private investment arrangements that will “allow it to move aggressively to build Canada’s first national fourth-generation broadband network.”
The company will create a 4G broadband network covering all of rural Canada by combining a new 4G WiMAX network of roughly 1,200 towers with a new satellite network using two new 4G satellites.
Headquartered in Woodstock, NB, Barrett Xplore operates Xplornet Internet Services, a Canadian rural broadband provider, serving customers and dealers across the country.
Totaling $55 million, the investment consists of $30 million from existing investors and $25 million in new equity investment. Among the new investors are Catalyst Investors and Werklund Capital Corporation.
“The range and size of these investments are a clear endorsement of the Barrett Xplore Inc. mission, business model and vision of making Canada an international rural broadband leader,” said John Maduri, CEO of Barrett Xplore. “This investment allows us to finish the job we started: to bring affordable, robust broadband to every rural Canadian.”
The deployment of the 4G terrestrial-wireless network began in December in Quebec. Two 4th generation satellites will be launched; one in 2011 and the second in 2012.
“Barrett Xplore aims to bridge the urban/rural digital divide by ensuring that every Canadian, regardless of where they live, has access to broadband, thereby enabling them to compete effectively in the global economy and gain access to essential government and educational services,” said the company.