There are plenty of examples of companies making acquisitions that may look sensible on paper, but they do not work out as the management would have liked. The latest company to fall into this trap is mobile payments business Boku Inc (LON: BOKU). The move into identification services is being unwound and this immediately enhances earnings.
The sale of the identity division to Twilio should raise $32.3m. That does not look too bad compared with the $25.1m purchase price of the Danal business in 2019 and the $5.4m asset value at the end of 2020. However, there was $20.8m impairment write do...
