Today, nearly all investors are concerned with the security of their investment. This is because a lot of investors in the last decade have lost some money from their investment and as a result, they want some assurance. Due to this, Fortress Investment Group expanded its strategy to offer a secure investment in iPass to all its clients.
Gary Griffiths, the CEO of iPass stated defined the move as one that would strengthen financing and hence make it easier for iPass to shift focus to revenue growth with over $30 million in funding. And if that were not enough, iPass secures the loan by all its considerable assets such as the SmartConnect technology and portfolio for patients.
The Loan Process
The iPass-Fortress Investment Group was brokered by Riley Financial, a company which operates in four different segments. These different segments include Auction, Liquidation, Capital Markets, Principal Investments and Valuation, which Riley Financial specializes for its high-end clients.
The iPass-Fortress Investment Group Agreement
Under the iPass-Fortress Investment Group Agreement, iPass will secure immediate access to at least $10 million. This amount will be used in transforming iPass Unlimited into a cloud-based business, part of its mission to create 300 million global hotspots by 2018.
iPass hopes to provide unlimited internet to individuals and corporates by leveraging on the business models of successful companies such as Microsoft. Fortress Investment Group has partner with the other companies to ensure that its cloud-based strategy is growing even better.
FIG is Expanding it’s Influence
In 1998 investment company decide to go public and become a trendsetter in several investment sectors. Fortress Investment Group aims to be the long lasting solution for investors interested in long-term solutions.
So far, Fortress Investment Group has employed over 900 people and manages over $40 million in assets. By May 2017, Fortress raises around $2 billion in its funding and this earned at least 39% and was named the hedge fund manager of the year. Analysts predict that iPass is likely to gain a competitive edge compared to its competition as a result of its deal with Fortress Investment Group.