The $3.3 billion acquisition by SoftBank Group Corp., the Japanese telecommunications, internet and solar energy giant, of Fortress Investment Group marks tycoon Masayoshi Son's latest step in building an investment empire. "Fortress' excellent track record speaks for itself, and we look forward to benefiting from its leadership, broad-based expertise and world-class investment platform," Son said in a statement. Tokyo-based Softbank has been aggressive in global acquisitions and has been seeking partners for its private fund for technology investments that it says may grow to $100 billion. SoftBank, the first carrier to offer the iPhone in Japan, also sells the Pepper human-shaped companion robot. The company, founded in 1981, has within its investment empire financial technology and ride-booking services.

Source: ABC News February 15, 2017 09:07 UTC