Businesses often gobble up smaller businesses by paying their owners enough money to walk away from such organizations. These larger entities – better known in accounting and finance as the large parent company – then oversee the operations of the smaller one, as well as extract all available profits from its performance.
iPass was recently granted funding in exchange for an undeclared share of ownership of iPass. Fortress Investment Group, one of the greater New England area’s hottest competitors in the realm of financial services – particularly that of offering alternative investment strategies to corporate clients – was able to secure a total of $20 million from the all-star alternative portfolio management firm Fortress Investment Group.
This transaction was consummated less than two weeks ago as of July 28, 2018, done so by handing out $10 million of its very own capital – it wasn’t sourced by loans or issuing bonds; Fortress Investment Group can always swing such high amounts of financing because it’s managed countless billions of dollars of its investors’ ownership over the past 20 years. Currently, as a matter of fact, Fortress Investment Group is fortunate enough to say that it has some $40.9 billion under the lead of its all-American management team.
iPass is a company that provides access to any of millions of wireless Internet hotspots around the world. Users can’t log on to all un-wired routers connected to the World Wide Web, though you’d think you have access to them all because – no matter where you look, there’s always nearby Internet; that is, at least, unless you’re in the middle of the jungle – there are nearby wireless Internet hotspots.
Fortress Investment Group is giving iPass its other $10 million in financing after it meets certain conditions. iPass proudly boasts that it manages the largest nexus of wireless Internet routers across the globe. According to its description online – the description of the iPass mobile application – iPass operates some 64 million Internet hotspots all across the United States, North America, and the world.
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