Okta, Inc., the independent identity provider, today announced the successful completion of its acquisition of Auth0, an 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 $6.5bn, will accelerate Okta’s growth in the $80bn 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.”
Morgan Stanley & Co. LLC served as financial advisor and Latham & Watkins LLP served as legal counsel to Okta. Qatalyst Partners served as financial advisor and Perkins Coie LLP served as legal counsel to Auth0.