Ericsson takes $3 billion hit on Vonage acquisition

Swedish kit vendor Ericsson has announced a non-cash impairment of SEK 32 billion (around $3 billion) in Q3 2023, ‘relating to the impairment of goodwill attributed to the Vonage acquisition.’
This comes roughly a year after the $6.2 billion purchase of the cloud and API specialist, a move central to its ambitions to start selling network APIs and development of a Global Network Platform (GNP).
The announcement states: “The impairment charge represents 50% of the total amount o