Crossroads Systems, Inc. announced that it has landed a US$10 million credit deal from an affiliate of Fortress Investment Group. Crossroads Systems, Inc. is a global provider of data archive solutions. Fortress Investment Group is a leading international investment company with around US$56 billion in assets under management. The deal was reinforced by a percentage of Crossroads Systems' intellectual property portfolio.

"We are pleased that Fortress recognizes the untapped value of our IP. Crossroads has a proven record of generating IP revenue, recognizing more than $60 million in license fees. The Fortress financing is an important component of Crossroads' previously announced strategy to access capital through the monetization of our patent portfolio, and underscores the value of our extensive IP portfolio," Interim President and Chief Executive of Crossroads Systems, Richard K. Coleman, Jr., explained.

Intellectual Property Finance Group head and managing director, Eran Zur, said, "Crossroads has demonstrated a history of successful intellectual property creation and Fortress is excited to help fund Crossroads' future growth." Intellectual Property Finance Group is a business unit of Fortress Investment Group.

Crossroads Systems' advisor for the transaction was National Securities Corporation. National Holdings Corp. is the parent company of National Securities Corp. The companies involved saw to it that Crossroads would issue Fortress around 1,454,545 warrants to obtain common stock.