Fortress Investment Group has invested in a Wi-fi company called iPass. Fortress investors can be assured this is a smart investment. Riley Financial put the deal together. The funding given to iPass was $20 million, with $10 million to start concentrating on revenue and being more profitable. IPass is the worlds biggest Wi-fi network that gives continuously on Wi-fi access to hot spots for businesses and customers. They have access in excess of 64 million hot spots globally. This amount has exponential growth potential expected up to 340 million by the end of this year.
Fortress Investment Group has always set the course for returns in investing with proper risk assessment. Investing in iPass is a no-brainer since people are more and more on the go and taking their work with them. This is the wave of the future. Fortress Investment Group has a track record that shows its successful investing. The hedge fund went public in Feruary 2007, and 9 years later was managing $70.2 billion dollars in different assets. They were also given recognition as Institutional Hedgefund Manager of the Year” by the Institutional Investor magazine. Wi-fi is growing rapidly and a good investment for the prospective future. It is clear to see that Fortress Investment Group has the wisdom and foresight to invest in iPass.
In the light of Fortress Investment Groups history, it was obtained by SoftBank in December, 2017. Historically, SoftBank has also been known for acquiring creative tech start up companies. SoftBank was looking for a company like Fortress Investment Group that could function independently in New York. Softbank’s goal is to get out of debt financing and get more into private equity through expanding its horizons. Though many have questioned this deal, it will enable Fortess Investment Group to be a private company again. There will be many advantages for both companies. Fortress is an operating lender and equity partner in real estate and mortgage servicing rights, which gets SoftBank closer to its goal of private equity. The merging of these to companies will no doubt be profitable for all involved and invested.
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