Fortress Investment Group is gambling on your need to connect to the Internet. Analysts at the private equity firm see a trend in worldwide connectivity. They believe that business people, companies and travelers will be willing to pay for unlimited Wi-Fi access at more than 340 million different hotspots around the globe. And that’s why they have invested $20 million in iPass.
iPass is a Wi-Fi connectivity company. They already operate more than 60 million different hotspots around the world. You may have already run into one of their hotspots at an airport, hotel, stadium, concert venue or restaurant. The company offers customers unlimited connectivity to their extensive network of hotspots on an unlimited number of devices.
The connectivity company wants to expand to more than 340 million different hotspots around the world. They are banking on the fact that business people need unlimited access to the Internet in order to conduct business properly in the modern-day era. Such an aggressive expansion should put the company at the forefront of connectivity options in the foreseeable future. At some point, most business people and companies around the world will have to subscribe to iPass in order to keep up.
This $20 million loan is just another sound investment for Fortress Investment Group. Three friends started the investment firm back in the late 90s with a few investments in real estate in New York City and Toronto. The savvy businessman quickly diversified the company’s portfolio to grow at a tremendous rate. They became the first private equity firm to go public on the New York Stock Exchange 2007. Fortress Investment Group is now in charge of more than $40 billion worth of assets around the world.
This investment just shows how diverse Fortress Investment Group’s portfolio really is. They have always been trendsetters and have invested in cutting-edge technology. This forecasting of a need for millions of Wi-Fi hotspots across the globe has allowed Fortress Investment Group to make another great investment. And iPass’s technological patents are the collateral for the loan. It really is a no-lose situation for the massive investment firm.