Okta has successfully sealed the deal with Auth0, acquiring the identity platform at US$6.5 billion, after eight years of business courtship. The acquisition, says Okta, will drive its growth in the US$80 billion identity market.
Okta has successfully acquired Auth0, an identity platform for application teams, in an all-stock transaction worth US$6.5 billion, the company announced.
Both tech companies address “a broad set of digital identity use cases, providing secure access and enabling everyone to safely use any technology.”
The acquisition, which spanned eight years, Okta says, will accelerate its growth in the US$80 billion identity market.
Chief Executive Officer and Co-Founder Eugenio Pace (pictured left) will helm Auth0 as an independent business unit. He reports directly to Todd McKinnon, Chief Executive Officer and Co-Founder of Okta.
Okta and Auth0’s platform will be supported, invested in, and integrated over time, and this move will accelerate innovation and make Okta Identity Cloud more compelling for customers and users.
On the acquisition, McKinnon says: “Identity is one of the most strategic investment that an organisation will have to plan.”
McKinnon declares: “A single, unified identity platform has the power to transform an organisation by providing seamless and secure access for customers and employees.”
McKinnon also lays the possibilities ahead. “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”, he says.
Pace is “more confident than ever” that Okta and Auth0 will deliver shared vision to secure access for everyone.
Pace says: “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.”
Both have “comprehensive, complementary, and flexible identity platforms” that solve every identity use case, regardless of the audience or user.
According to Okta, it pioneered “cloud-based identity, offering enterprise-grade reliability and world-class security while prioritising customer success for organisations.”
Auth0, on the other hand, was built by “developers for developers.” It claims its global builders 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 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.”
Leung says Kiva leverages Auth0 “to provide secure authentication to Kiva’s partners, lenders, and maximises Okta for workforce identity”, giving the team access to critical technologies to best serve millions of global entrepreneurs in their network.
Kiva, Leung says, trusts Okta and Auth0 to “connect our people and technology, and are excited to see how they evolve and innovate together.”
Jay Bretzmann, Program Director for Cybersecurity Products, IDC, concludes: “Credence goes to those who can help us identify one another in a digital world. Both provide cloud-ready developer-friendly tools to help us. They’re building the platforms we need to take the next steps.”
He ends by describing the two companies: “Simple, elegant, and customer-centric.”
INTRODUCING ITWIRE TV
iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.
We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.
In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.
We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.
See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.