Woodstock, NB-based Xplornet Communications Inc., which owns a hiybrid fiber wireless and satellite network, has reportedly agreed to be bought by a private equity investor for about US$2 billion (C$2.7 billion).

Citing people familiar with the matter, Bloomberg News reported Wednesday that New York-based Stonepeak Infrastructure Partners has agreed to buy the Canadian broadband service provider. The report said the companies are not commenting on the matter, but sources say a deal could be announced within a month.

Xplornet has been seeking a buyer for a few months, said Bloomberg.

The New Brunswick company, whose owners include New York private equity firms Sandler Capital Management and Catalyst Investors, serves about 1 million Canadians, including more than 300,000 in rural areas that usually can’t access customary wireless networks. Its network uses fixed-wireless towers as well as satellites to reach remote areas.

Bloomberg said Stonepeak, invests in “long-lived, hard-asset businesses and projects that provide essential services to customers” and recently raised its third fund, which is worth US$7.2 billion.