Fortress Investment Group was established in 1998 and was the first company of its kind to go public. The company works towards providing its l=clients with great long-term investment options to make maximum profits. The company has recently gone into a $20 million partnership with iPass in a deal that will provide its clients with long-term investment as Wi-Fi connectivity is becoming more important each passing day. The technologies that iPass holds are bound to remain relevant for many years to come and therefore a great long-term investment.
iPass owns the biggest wifi network in the world today making it possible millions of individual consumer and business to access it all over the world. iPass provides connectivity to users on several devices and they can access over 64 million hotspots all over the world. iPass can be found in hotels, restaurants, convention centers, airports as well as train stations. See Related Links.
The number of hotspots is expected to rise exponentially by the close of 2018. This growth where the number of hotspots is expected to grow to 340 million is another reason why Fortress investment group considers this a wonderful opportunity for its clients. In the deal which the iPass CEO sees as a route to increase profit and help the company focus on growing said profits, iPass will receive 10 million immediately and the remaining 10 at later date.
The funding was secured using iPass assets such as its SmartConnect technology and their patents. The deal was brokered by Riley Financial, Inc which is involved in Auction and Liquidation, Principal Investments and Valuation, Capital Markets as well as Appraisal. Riley Financial Inc is highly regarded in the investment world and has strict protocols on valuation.
Apart from this investment Fortress investment group has invested n a number of other companies including All Aboard Florida whose operation the company is in the process of expanding in the Orlando area. It also is involved in the TSX Broadway Project, which intends to build a skyscraper in Times Square.
About Fortress Investment Group
Fortress Investment Group was established in 1998 by Rob Kauffman, Randal Nardone, and Wesley R. Edens. It went public in 007 and was acquired by SoftBank in 2017.