The company SoftBank has recently been involved in a major transaction. In August of 2018, the company acquired the asset management Fortress Investment Group for a sum of $3.3 billion. This transaction will enable the company to continue its worldwide expansion. The acquisition of Fortress Investment Group was unexpected despite there being rumors of a possible deal. With the acquisition of Fortress Investment Group, SoftBank will now be able to continue the next phase of its business development It will now look to become one of the largest and most reputable investment management firms in the world. While Fortress Investment Group may have been acquired by SoftBank, it will continue to operate as it has for the last 20 years. SoftBank will not have any management or oversight of Fortress Investment Group’s valuable assets.
The new acquisition will be beneficial for both Fortress and SoftBank. Since Fortress has been successful at dictating its own business direction and goals to pursue, SoftBank became very interested in this characteristic. For SoftBank, Fortress will remain anonymous when pursuing its goals and interests all over the world. Both Fortress and SoftBank will look to continue serving their customers as well as pursue their own unique goals in the future.
These two companies have been major entities in the business world since the beginning of the 1980’s. SoftBank was founded in 1981 and served as a wholesaler of PC software. By the 1990’s the company would branch out to holding computer trade shows as well as publishing computer magazines. In 1996, SoftBank had a change in its fortunes as it was able to acquire Yahoo. Once the company acquired Yahoo, it would branch out to other industries all over the world. Today, SoftBank has holdings in over 400 internet companies throughout the world and looks to continue its expansion.
Fortress is an alternative asset management firm that was founded in 1998. For the past twenty years, the firm has emerged as one of the leading investment firms that provide services to a wide range of businesses and industries. It was founded by its chief executive officer Randal Nardone as well as the co chairman Wesley Edens. The two founders have built the firm into one of the most successful investment firms in the world.
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