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Okta Completes Acquisition of Auth0

Okta, Inc. announced the successful completion of its acquisition of Auth0, a leading identity platform for application teams. Together, Okta and Auth0 address a broad set of digital identity use cases, providing secure access and enabling everyone to safely use any technology. The stock transaction, valued at approximately $6.5 billion, will accelerate Okta's growth in the $80 billion identity market.

Auth0 will operate as an independent business unit within Okta, led by Auth0 Chief Executive Officer and Co-Founder Eugenio Pace, reporting directly to Todd McKinnon, Chief Executive Officer and Co-Founder of Okta. Both Okta's and Auth0's platforms will be supported, invested in, and integrated over time - accelerating innovation and making the Okta Identity Cloud even more compelling for the full spectrum of customers and users.

"Identity is one of the most strategic investments an organization will make today. A single, unified identity platform has the power to transform an organization by providing seamless and secure access for both customers and employees," said McKinnon. "Okta and Auth0 have always shared a vision for the identity market. We're also both cloud-first, customer-first companies. By joining forces, we'll give our customers more choice and flexibility, driving tremendous value and enabling them to accelerate innovation. Together, we will shape the future of identity on the internet, empowering developers to build with identity at the foundation."

"As Okta and Auth0 join forces today, bringing together two exceptional companies, I'm more confident than ever that we will deliver on our shared vision to secure access for everyone," said Pace. "Auth0's focus has always been on enabling product builders to innovate, and now as one company with a shared vision and combined resources, that innovation will only increase."

Okta's and Auth0's comprehensive, complementary, and flexible identity platforms solve every identity use case, regardless of the audience or user. Okta pioneered cloud-based identity, offering enterprise-grade reliability and world-class security while prioritizing customer success for organizations of all sizes. Auth0 was built by developers for developers. Application builders around the world are loyal to Auth0 for its extensibility, ease of use, scope of documentation, and developer-friendly experience. With combined expertise across developer communities and the enterprise, Okta and Auth0 will provide enhanced depth and breadth of identity solutions and will be even better suited to integrate quickly into the modern tech stack of today's developers.

"At Kiva, we're on a mission to expand financial access to help underserved communities around the world thrive. Identity plays an essential role in making that happen," said Ken Leung, EVP of Engineering, Kiva. "Today, we leverage Auth0 to provide secure authentication to Kiva's partners and lenders, and Okta for workforce identity, giving our team access to the critical technologies they need to best serve the millions of global entrepreneurs in our network. We trust both Okta and Auth0 to connect our people and technology, and are excited to see how they evolve and innovate together."

"Credence goes to those who can help us identify one another in a digital world," said Jay Bretzmann, Program Director for Cybersecurity Products, IDC. "Okta and Auth0 provide the cloud-ready, developer-friendly tools to help in the fight. They're building the platforms and technology we'll need to take the next steps. Simple, elegant, and customer-centric."

Published Monday, May 03, 2021 9:31 AM by David Marshall
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