Softbank has acquired fortress Investment Group. SoftBank is a tech firm based in Japan that funds startup technology companies. Fortress Investment Group just announced that it had started funding that is aimed at helping the organization to expand more into the robust market. Fortress Group was the first privately owned company that had its shares traded publicly on the New York Stock Exchange. However, the company has been delisted after Soft Bank acquired it. Fortress investment looks forward to closing one of its funds while being ready to fund another one. Fortress Investment Group is attempting to exploit on the remarkably robust private-credit market. The company intends to be lending activities directed to mid-sized as well as small sized organization to generate gains. Fortress Group was founded in 1998 by Wes Eden and Randal Nardone.
SoftBank paid $3.3billion in acquiring fortress Investment Group. Fortress Group deals with alternative asset investment. According to many, the deal makes little sense as they wonder what brings these to companies that are operating in different industries together. The Fortress Group shareholders have approved the deal. With this acquisition, it shows that Soft Bank wants to venture into alternative asset investment and become the leading organization in industry in the United States. Soft Bank was founded by Masayoshi’s son as wholesale of PC software. At the moment, the company invests in tech services companies, telecommunication, broadband companies and others.
The management team from Fortress Group claim that the acquisition came at the right moment as the company wants to expand into other markets. The management argues that the deal will make the company achieve its goals. Moreover, the delisting from the New York Stock Exchange is one thing that the company is pleased with. Fortress Group is always ready to go an extra mile to have the competitive advantage in market. Thus, with the acquisition, the company looks forward to growing its base of investors and developing even more. Despite the acquisition, Fortress Investment group will be responsible for its management as well as retaining all its leaders, and the company is happy with the deal.
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