Okta completes $6.5B Auth0 acquisition
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Okta has announced that its $6.5 billion Auth0 acquisition is now complete.
Companies are increasing their cloud IT spend as part of ongoing digital transformation efforts, which generate an even greater need to invest in security. For enterprises, managing the online identities of their workforce is a key part of this shift.
The Okta and Auth0 deal, which was first announced back in March, brings together two heavyweights from the identity and access management (IAM) sphere. Okta is a $35 billion publicly traded company specializing in software and APIs that enable businesses to manage how their users access online systems. Auth0, a developer-focused identify platform for “application teams,” is a venture-backed company backed by Salesforce and other big-name investors. Collectively, the companies claim Siemens, T-Mobile, Pfizer, and AMD among their customers.
As a combined entity, Okta and Auth0 are essentially leveraging their clout and experience in the enterprise and developer communities. The companies haven’t divulged specific integration plans, but they said both platforms will be “supported, invested in, and integrated over time.” Auth0 will continue to operate as an independent unit inside Okta, led by cofounder and current CEO Eugenio Pace, who will report directly to Okta CEO Todd McKinnon.
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