Acquisitions occur in the business world annually. Sometimes, to clients, these acquisitions make little or no sense. However, to the parties taking part in the exchange, these transactions offer them a lot of value. The acquisition undertaken by SoftBank was one of the latest. The company purchased Fortress Investment for $3.3 billion. FIG’s shareholders approved the deal in July 2017, and it became official in December that year.
When SoftBank was founded in 1981, it sold PC software. However, years later, the firm started buying stocks in other companies. Today, the firm has shares in hundreds of other companies providing different services. With its latest purchase of FIG, the firm seeks to become one of the world’s biggest and successful investment firms. Check out Bloomberg.com to read more about Peter Briger.
FIG has shown its passion in the investment industry and aims at remaining at the top of the game. Under its Principle Peter Briger, FIG has performed successfully in the real estate, hedge funds markets, and private equity investments and continues to show signs of performing well in the future. At the moment, Fortress Investment Group manages assets worth more than $40 billion around the world. Despite its acquisition, FIG will carry on with its operations in the same way as it did before.
Even though the acquisition talks began months before the purchase took place, SoftBank’s plans to buy a company began two years before sealing the deal with FIG. SoftBank was hunting for a company that would help it become an international investment firm. Because of this, SoftBank’s investors required an institutionalized structure that would foresee important investment activities like trading and compliance among others.
SoftBank spent $3.3 billion on FIG’s purchase. The firm now owns 100% of Fortress’ outstanding shares. However, FIG will continue with its operations with no interference from SoftBank. Also, the company will keep its principles like Wes Edens and the Principle and Board of Directors, Peter Briger. Issuing their statement after the purchase, Wes Edens and Peter Briger said that the acquisition would not help SoftBank attain its goals. Peter Briger added that the purchase would offer more benefits to the private equity company and industry.