SoftBank had previously announced that they had concrete plans to acquire Fortress Investment Group. This acquisition cost SoftBank a cash price of $3.3 billion. When this transaction closed, SoftBank owned all outstanding shares of the company as part of the deal. The shareholders of Fortress approved the deal on July 12, 2017. In addition, all of the necessary regulatory approvals were completed as well before the deal was completed. Executives with Fortress Investment Group are excited about becoming a part of the global company. The CEO of SoftBank believes the experience of Fortress will be a great addition to their company. Click here to learn more about Fortress Investment Group.
Fortress Investment Group will still be acting as a mostly independent company within SoftBank. The 3 founders are still leading the company even after the merger took place. They will still be keeping the same branding as well and will largely remain unchanged. They have been successful so far so SoftBank doesn’t see any reason to change how they are operating. When the acquisition was completed, Fortress was delisted from the stock market and was able to go private under SoftBank.
Fortress Investment Group is a diverse global investment management firm that is located out of the Greater New York area. They were founded on January 1, 1998, by Wes Edens, Randal Nardone, and Peter Briger. These 3 men are still major players with the company and are with them to this day. Currently, they have more than 1,700 clients across the world. They have a wide variety of strategies including those in private equity, permanent capital, real estate, and credit.
Fortress Investment Group leaders are excited to be joining SoftBank through this acquisition and believe the 2 companies have a lot to offer each other. They believe that this opportunity will lead them to a great path for the future of their company. SoftBank recently created the SoftBank Vision Fund as they are hoping to become a major player in the financial world. This is why this merger with Fortress is such a great opportunity for them as they will have access to their impressive network of connections in a wide variety of fields.