Okta grabs cloud identity startup Auth0 for $ 6.5 billion

Okta Inc. (Nasdaq: OKTA) today announced a definitive agreement to acquire Auth0, a leading cloud-based identity platform for application teams.

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Auth0 provides a platform for authentication, authorization and access for applications, devices and users. The company is to act as an independent business unit within Okta.

“The acquisition will accelerate the shared vision of the companies to enable everyone to safely use any technology and thus shape the future of identity on the Internet.”

As a result of the acquisition, organizations will have more choices in identity solutions to meet their unique needs, said Todd McKinnon, chief executive officer and co-founder of Okta.

“Companies everywhere are using identities to streamline processes, reduce costs, ensure the highest levels of security, and improve the customer experience to drive business growth. Okta and Auth0 have made it their business to bring innovation and added value to organizations going through this transformation ”.

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