Okta completes $6.5B Auth0 acquisition

by akoloy


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Okta has announced that its $6.5 billion Auth0 acquisition is now full.

Companies are increasing their cloud IT spend as a part of ongoing digital transformation efforts, which generates a fair larger have to spend money on safety. Managing the web identities of their workforce is a key a part of this shift.

The Okta and Auth0 deal, which was first introduced back in March, brings collectively two heavyweights from the identification and entry administration (IAM) sphere. Okta is a $35 billion publicly traded firm specializing in software and APIs that allow companies to handle how their customers entry on-line techniques. Auth0, a developer-focused establish platform for “application teams,” is a venture-backed company with big-name backers that embrace Salesforce. Collectively, the businesses declare Siemens, T-Mobile, Pfizer, and AMD amongst their prospects.

As a mixed entity, Okta and Auth0 are primarily leveraging their respective clout and expertise within the enterprise and developer communities. The corporations haven’t divulged particular integration plans, however of their shared announcement, they stated each platforms will likely be “supported, invested in, and integrated over time.” Auth0 will proceed to function as an impartial unit inside Okta, led by cofounder and present CEO Eugenio Pace, who will report on to Okta CEO Todd McKinnon.

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