Okta, Inc. (NASDAQ:OKTA), an independent identity provider, is to acquire Auth0, an identity platform for application teams, in a stock transaction valued at approximately $6.5 billion.
The proposed transaction is subject to receipt of required regulatory approvals and satisfaction or waiver of other customary closing conditions and is expected to close during Okta’s second quarter of fiscal year 2022, the quarter ending July 31, 2021.
The acquisition will enable Okta to provide identity for the internet, for both developers and the world’s largest organizations. Auth0 will operate as an independent business unit inside of Okta, and both platforms will be supported, invested in, and integrated over time.
Led by Eugenio Pace, Chief Executive Officer and co-founder, Auth0 provides a platform for security and application teams to authenticate, authorize, and secure access for applications, devices, and users.
Led by Todd McKinnon, Chief Executive Officer and co-founder, Okta provides an Identity Cloud that enables organizations to securely connect the right people to the right technologies at the right time. With more than 7,000 pre-built integrations to applications and infrastructure providers, Okta provides secure access to people and organizations everywhere, giving them the confidence to reach their full potential. More than 10,000 organizations, including JetBlue, Nordstrom, Siemens, Slack, T-Mobile, Takeda, Teach for America, and Twilio, use Okta to help protect the identities of their workforces and customers.