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Okta Closes USD 6.5bn Acquisition of Auth0
Monday 03 May 2021

US-based independent identity provider Okta, Inc. (NASDAQ: OKTA) has closed the acquisition of identity platform Auth0, in a stock transaction valued at approximately USD 6.5bn, to accelerate growth in the USD 55bn identity market, the company said.

Okta acquired Auth0 for class A common stock in Okta based on a fixed number of Okta shares and an Okta share price of USD 276.21.

Okta and Auth0 address a broad set of identity use cases and the acquisition will accelerate the companies' shared vision of enabling everyone to safely use any technology, shaping the future of identity on the internet.

Auth0 will operate as an independent business unit inside of Okta, and both platforms will be supported, invested in, and integrated over time, giving organisations a greater choice in selecting the identity solution for their unique needs.

Morgan Stanley and Co. LLC is serving as financial advisor and Latham and Watkins LLP is serving as legal counsel to Okta. Qatalyst Partners is serving as financial advisor and Perkins Coie LLP is serving as legal counsel to Auth0.

Auth0 provides a platform to authenticate, authorise, and secure access for applications, devices, and users.
Details
Date Published: 03/05/2021

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