Day: November 1, 2023

Vodafone Exits Spain – Scale or Fail in Europe?

by Rob Pritchard, posted in Communicate, Internet of Things, Mobilize, Secure
R. Pritchard

Summary Bullets:

• Vodafone Spain, with 2022 revenues down 6.5% year-on-year to EUR3.9 billion, is to be sold to Zegona for up to EUR5 billion.

• Disposal is symptomatic of ‘scale or fail’ among established operators where cashflow and profits are squeezed, but substantial investment in fiber and 5G is required.

Vodafone has agreed to sell its Spanish business for up to EUR5 billion (at least EUR4.1 billion in cash and up to EUR900 million in redeemable preference shares) to Zegona Communications, a company that looks to acquire telecoms and assets and turn them around commercially. The deal is expected to close in H1 2024.

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Okta’s Market Valuation Takes a Hit After the Identity Management Company Discloses Breach

by Amy Larsen DeCarlo, posted in Secure
Amy Larsen DeCarlo – Principal Analyst, Security and Data Center Services

Summary Bullets:

• Okta admitted on October 20, 2023 that the company detected “adversarial activity that leveraged access to a stolen credential” to breach the company’s support management system.

• The cybercriminal tapped into customer files as part of recent support incidents; Okta was careful to note that the support case management system is distinct from the production Okta service.

Cyberattacks are expensive, and not just for enterprises and consumers. After Okta disclosed that threat actors had breached its customer support systems, the identity and access management supplier saw its market cap collapse. Over the course of a week, the company’s share price plummeted by 9%, and the company lost nearly $2 billion in its valuation.

Continue reading “Okta’s Market Valuation Takes a Hit After the Identity Management Company Discloses Breach” →