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iTWire Tuesday, 04 May 2021 12:46 Okta buys Auth0 at US$6.5 billion
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Okta has successfully sealed the deal with Auth0, acquiring the identity platform at US$6.5 billion, after eight years of business courtship. The acquisition, says Okta, will drive its growth in the US$80 billion identity market.
Okta has successfully acquired Auth0, an identity platform for application teams, in an all-stock transaction worth US$6.5 billion, the company announced.
Both tech companies address “a broad set of digital identity use cases, providing secure access and enabling everyone to safely use any technology.”
The acquisition, which spanned eight years, Okta says, will accelerate its growth in the US$80 billion identity market.
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With the shift to work-at-home, the new normal for security teams has changed. In a word, identity has risen into a pivotal security technology. Yet many organizations struggle to answer the identity ROI question, and handle the question of moving to the cloud. Yet the steady march towards Identity-as-a-Service (IdaaS) continues, according to IDC.
Join Jay Bretzmann, Program Director, Cybersecurity Products at IDC and Jenn Markey, Product Marketing Director, Identity at Entrust, as they explore these issues and identify potential solutions.
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May 03, 2021
Identity leaders combine developer and enterprise expertise, offering customers more flexibility
Okta, Inc. (NASDAQ:OKTA), the leading independent identity provider, today announced the successful completion of its acquisition of Auth0, a leading identity platform for application teams. Together, Okta and Auth0 address a broad set of digital identity use cases, providing secure access and enabling everyone to safely use any technology. The stock transaction, valued at approximately $6.5 billion, will accelerate Okta s growth in the $80 billion identity market.
Auth0 will operate as an independent business unit within Okta, led by Auth0 Chief Executive Officer and Co-Founder Eugenio Pace, reporting directly to Todd McKinnon, Chief Executive Officer and Co-Founder of Okta. Both Okta s and Auth0 s platforms will be supported, invested in, and integrated over time accelerating innovation and making the Okta Identity Cloud even more compelling for the full