The phenomenal Fortress Investment Group has secured a £20 million investment deal with iPass. This company is a leader when it comes to the provision of global connectivity options. The iPass CEO and President welcomed this financing since it was going to play a significant role in bringing profitability in the company.
The Ingenious Behind the Deal
Using patents to secure the loan, this ensures the credibility for the iPass Veri-Fi product families and SmartConnect. Riley Financial Inc. was responsible for brokering this deal between iPass and Fortress Investment Group. It is an investment bank that has excellent experience in putting up such agreements. It has generated enough expertise in, auction and liquidation, valuation, capital markets, and principal investment. Therefore, it is undoubtedly clear to conclude that this company is among the best in equity search.
Fortress Supports iPass
Fortress Investment Group supports reliable industries a reason why it invested in iPass. Technology is among the hottest market; currently, iPass operates and holds the largest WI-FI network which has enabled its consumer such as businesses to access millions of Wi-Fi hotspots locations globally. This hotspot can be located in hotels, airports, convention centers, entertainment arenas, restaurants, and train stations. It is essential to get a grip on the value it brings to its consumers. That is why Fortress Investment Group chose to invest in the company. This deal will help the company grow its hotspots and cover more places and businesses and grow its Wi-Fi technology.
This valuable agreement gave iPass direct access to $10 million immediately. Fortress has always challenged itself by taking such significant risks. Through this investment, the firm will join the top companies in this field, such as Microsoft and HP aiming for the same vision. Fortress has indicated its support for other business, and its confidence in reaching the top. A 2018 analysis from an independent third-party firm known as Maravedis, predicted $340 million hotspots in the world through this deal.
This remarkable firm was founded back in the year 1998. It made its mark in the financial world by being the first private equity investment group in the NYSE trade. It has created employment for more than 900 people. Its impact shall always inspire other firms to take a risk and take the initiative to grow.