Auth0

Founded in 2013, AuthO is developing a platform for authorizing users to access applications and devices. By March 2021, the product has more than 9,000 corporate users in more than 70 countries.

History

2021: Okta bought Auth0 for $6.5 billion

In early March 2021, the American developer of tools for managing the identification of customers and employees of Okta announced the acquisition of Auth0. The value of the transaction amounted to $6.5 billion.

According to Okta's press release, the deal is scheduled to close in the second quarter of fiscal 2022, which will end on July 31, 2021. As part of the deal, Auth0 shareholders will receive Okta shares at a rate of $276.21 apiece. Upon completion of the transaction, Auth0 will continue to operate as an independent division of Okta.

The integration of the Auth0 identification solution with Okta Identity Cloud will greatly benefit both current and future customers, "Okta CEO Todd McKinnon said in a statement. - In an increasingly digital world, identification is the unifying link through which we use technology - both at work and in our personal lives.

Okta acquired Auth0 for $6.5 billion

Okta argues that current trends in IT, including the introduction of cloud and hybrid solutions, digital transformation initiatives, and the introduction of zero-trust security systems, increase the importance of effective identity management. The company claims that the market for identification tools by March 2021 is estimated at $55 billion.

With Auth0, we will attract thousands of customers, a significant number of end developers and hundreds of millions of users. We will also attract more strategic partners, increase product use options and expand our international presence, "McKinnon added.[1]

Notes