Okta buys identity platform Auth0 for US$6.5B
- 04 March, 2021 10:19
Identity management vendor Okta has put a mammoth US$6.5 billion on the table to acquire security rival Auth0. If the deal goes through, the fellow identity management company will become an independent business unit inside Okta.
Expected to be finalised by the close of the quarter ending 31 July 2021, the acquisition will enable Okta to add more developer-focused features into its platform and, in particular, enable customers to embed identity management into applications.
“Combining Auth0’s developer-centric identity solution with the Okta Identity Cloud will drive tremendous value for both current and future customers,” said Todd McKinnon, CEO and co-founder, Okta.
“Okta’s and Auth0’s shared vision for the identity market, rooted in customer success, will accelerate our innovation, opening up new ways for our customers to leverage identity to meet their business needs."
Auth0 was founded in 2013 by former Microsoft talent Eugenio Pace and now has several global offices, including in Sydney and Singapore as well as its worldwide headquarters in Seattle. Pace will continue to lead Auth0 once it becomes a unit of Okta. In a statement, Pace said the deal would be an “incredible opportunity to build the identity platform of the future”.
“Together, we can offer our customers workforce and customer identity solutions with exceptional speed, simplicity, security, reliability and scalability,” he said. “By joining forces, we will accelerate our customers’ innovation and ability to meet the needs and demands of consumers, businesses and employees everywhere.”
The deal comes almost four years after Okta acquired Azuqua, a cloud-based business application integration and workflow automation provider for US$52.5 million.