TOKYO -- SoftBank Group said Wednesday that it has entered into a definite agreement with Fortress Investment Group to acquire the U.S. private equity firm for roughly $3.3 billion.
The Japanese telecommunications and internet company, known for its bold acquisition moves, is expected to fork over its own money for a portion of that amount, with the rest coming from other investors. The main attraction of Fortress is believed to be its ability to manage large-scale investments, as its assets under management stood at $70.1 billion as of Sept. 30, 2016.
