SoftBank came was founded almost 40 years ago. Since then, the organization has had one focus after the other. With all these, the organization has been able to grow as well as becoming more prosperous. SoftBank just bought Fortress Investment Group in a deal of $3.3 billion. Fortress Investment Group is an organization that focuses on investment management. Fortress Group is the leading organization in this sector across the world.
With the acquisition, this is another development direction for SoftBank. Though the transaction was costly on the side of SoftBank, this will not bring many changes when it comes to how Fortress Invest group is going to run its operations. SoftBank will not have control over how the company operates. In addition to this, Fortress Investment will not change its headquarters from New York. This came up because of the regulatory hurdles that made SoftBank agree to stay far from Fortress’s operations.
It is a fantastic story when the history of these two companies is considered. Masayoshi Son established SoftBank. He came up with his company in 1981, and the company was focusing on PC software wholesale. When it came to the 1990s, the company changed its business direction and started focusing on publishing computer magazines as well as computer trade shows. In 1996, the organization made a fortune development when it bought a larger share of sticks in Yahoo. From this moment, the company has developed as well as evolving considerably over the years. At the moment, SoftBank has shares in over 400 different internet organizations. In addition to this, the organization has built for itself a name when it comes to funding tech startups. However, with the acquisition of Fortress Investment Group, SoftBank is ready to get into the investment management industry. To know more about the company click here.
Fortress investment group has been around for over 20 years with most of his services taking place in New York. The organization came into being through Randal Nardone, the CEO of the company. He partnered with Wes Edens who currently serves as a co-chair. For the last 20 years, the company has been running as a global investment manager, and it has assets worth $40 billion under its control. The assets belong to individual investors including organizational clients. SoftBank is a foreign organization, and it had to go through the Committee on Foreign Investment oversight that only made SoftBack sign the deal after agreeing to get less concerned on how Fortress runs its operations.
Visit their website: https://www.fortress.com/