Okta buys Auth0 for $6.5bn

Independent identity provider Okta has announced the completion of its buyout of identity platform Auth0 for $6.5 billion.

Okta said it will combine its enterprise expertise with Auth0’s developer knowledge.

The identity market is currently worth around $80 billion.

“Okta and Auth0 have always shared a vision for the identity market,” said Todd McKinnon, chief executive and co-founder of Okta. “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.”

Eugenio Pace, chief exec and co-founder of Auth0, said: “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. 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."

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