SoftBank to buy US investment firm Fortress for $3.3B - Mobile World Live

SoftBank to buy US investment firm Fortress for $3.3B

15 FEB 2017

SoftBank is set to acquire Fortress Investment Group for $3.3 billion which, alongside its $100 billion Technology Vision Fund, sees the company diversify into private equity funding.

The Japanese company regularly voiced its intent to become a major investor in the technology sector to drive its future growth, but today’s acquisition sees the company acquire a large portfolio of investments across multiple sectors.

Announcing the deal, SoftBank chairman and CEO Masayoshi Son said: “This opportunity will immediately help expand our group capabilities, and, alongside our soon-to-be-established SoftBank Vision Fund platform, will accelerate our SoftBank 2.0 transformation strategy of bold, disciplined investment and world class execution to drive sustainable long-term growth.”

Although yet to start operation, its Technology Vision Fund already achieved much of its targeted seed funding. SoftBank contributed $25 billion, its launch partner Saudi Arabia Public Investment Fund guaranteed around $45 billion and several other backers have pledged support, including Apple which is reportedly investing $1 billion.

At the launch of the fund in October 2016, Son said: “Over the next decade, the SoftBank Vision Fund will be the biggest investor in the technology sector. We will further accelerate the information revolution by contributing to its development.”


Chris Donkin

Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved...

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