Okta to Acquire AuthO
Okta, an identity provider, will acquire Auth0, a customer and employee identity platform provider, in a stock transaction valued at approximately $6.5 billion.
"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 of Okta, in a statement. "In an increasingly digital world, identity is the unifying means by which we use technology, both at work and in our personal lives. With so much at stake for businesses today, it's critical that we deliver trusted customer-facing identity solutions. 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. We are thrilled to join forces with the Auth0 team, as they are ideal allies in building identity for the internet and establishing identity as a primary cloud."
"Okta and Auth0 have an incredible opportunity to build the identity platform of the future," said Eugenio Pace, CEO and co-founder of Auth0, in a statement. "We founded Auth0 to enable product builders to innovate with a secure, easy-to-use, and extensible customer identity platform. Together, we can offer our customers workforce and customer identity solutions with exceptional speed, simplicity, security, reliability, and scalability. By joining forces, we will accelerate our customers' innovation and ability to meet the needs and demands of consumers, businesses, and employees everywhere."
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