\n<\/p>\n
\n Identity leaders combine developer and enterprise expertise, offering customers more flexibility <\/p>\n
SINGAPORE \u00a0– Media OutReach<\/a> – 4 May 2021 – Okta, Inc.<\/a> <\/b>(NASDAQ:OKTA),
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Auth0 will operate as an
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“Identity is one of the most
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“As Okta and Auth0 join
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Okta’s and Auth0’s
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“At Kiva, we’re on a mission
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“Credence goes to those who
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Financial Outlook<\/b><\/p>\n
With the completion of the
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Advisors<\/b><\/p>\n
Morgan Stanley & Co. LLC
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Cautionary Language Concerning
This press release contains
Identity leaders combine developer and enterprise expertise, offering customers more flexibility SINGAPORE \u00a0– Media OutReach – 4 May 2021 – Okta, Inc. (NASDAQ:OKTA),
the leading independent identity provider, today announced the successful
completion of its acquisition of Auth0, a leading identity platform for
application teams. Together, Okta and Auth0 address a broad set of digital
…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14430"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=14430"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/14430\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=14430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=14430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=14430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nthe leading independent identity provider, today announced the successful
\ncompletion of its acquisition of Auth0, a leading identity platform for
\napplication teams. Together, Okta and Auth0 address a broad set of digital
\nidentity use cases, providing secure access and enabling everyone to safely use
\nany technology. The stock transaction, valued at approximately $6.5 billion,
\nwill accelerate Okta’s growth in the $80 billion identity market. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nindependent business unit within Okta, led by Auth0 Chief Executive Officer and
\nCo-Founder Eugenio Pace, reporting directly to Todd McKinnon, Chief Executive
\nOfficer and Co-Founder of Okta. Both Okta’s and Auth0’s platforms will be
\nsupported, invested in, and integrated over time \u2014 accelerating innovation and
\nmaking the Okta Identity Cloud even more compelling for the full spectrum of
\ncustomers and users. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nstrategic investments an organization will make today. A single, unified
\nidentity platform has the power to transform an organization by providing
\nseamless and secure access for both customers and employees,” said McKinnon.
\n“Okta and Auth0 have always shared a vision for the identity market. We’re also
\nboth cloud-first, customer-first companies. By joining forces, we’ll give our
\ncustomers more choice and flexibility, driving tremendous value and enabling
\nthem to accelerate innovation. Together, we will shape the future of identity
\non the internet, empowering developers to build with identity at the
\nfoundation.”<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nforces today, bringing together two exceptional companies, I’m more confident
\nthan ever that we will deliver on our shared vision to secure access for
\neveryone,” said Pace. “Auth0’s focus has always been on enabling
\nproduct builders to innovate, and now as one company with a shared vision and
\ncombined resources, that innovation will only increase.”<\/p>\n
\n
<\/p>\n
\n
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\ncomprehensive, complementary, and flexible identity platforms solve every
\nidentity use case, regardless of the audience or user. Okta pioneered
\ncloud-based identity, offering enterprise-grade reliability and world-class
\nsecurity while prioritizing customer success for organizations of all sizes.
\nAuth0 was built by developers for developers. Application builders around the
\nworld are loyal to Auth0 for its extensibility, ease of use, scope of
\ndocumentation, and developer-friendly experience. With combined expertise
\nacross developer communities and the enterprise, Okta and Auth0 will provide
\nenhanced depth and breadth of identity solutions and will be even better suited
\nto integrate quickly into the modern tech stack of today’s developers. <\/p>\n
\n
<\/p>\n
\n
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\nto expand financial access to help underserved communities around the world
\nthrive. Identity plays an essential role in making that happen,” said Ken
\nLeung, EVP of Engineering, Kiva. “Today, we leverage Auth0 to provide
\nsecure authentication to Kiva’s partners and lenders, and Okta for workforce
\nidentity, giving our team access to the critical technologies they need to best
\nserve the millions of global entrepreneurs in our network.\u00a0 We trust both Okta and Auth0 to connect our
\npeople and technology, and are excited to see how they evolve and innovate
\ntogether.”<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ncan help us identify one another in a digital world,” said Jay Bretzmann,
\nProgram Director for Cybersecurity Products, IDC.\u00a0 “Okta and Auth0 provide the cloud-ready,
\ndeveloper-friendly tools to help in the fight. They’re building the platforms
\nand technology we’ll need to take the next steps. Simple, elegant, and
\ncustomer-centric.” <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nacquisition of Auth0, Okta intends to provide a combined financial outlook for
\nfiscal year 2022 in conjunction with the release of its first quarter 2022
\nfinancial results on Wednesday, May 26, 2021. Okta will host a video webcast
\nthat day at 2:00 p.m. Pacific time (5:00 p.m. Eastern time) to discuss its
\nresults and combined company financial outlook. A webcast replay will be
\naccessible from Okta’s investor relations website at https:\/\/investor.okta.com<\/a>. The press release will be accessible from
\nOkta’s investor relations website prior to the commencement of the event. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nserved as financial advisor and Latham & Watkins LLP served as legal
\ncounsel to Okta. Qatalyst Partners served as financial advisor and Perkins Coie
\nLLP served as legal counsel to Auth0.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nForward-Looking Statements<\/b><\/p>\n
\n
<\/p>\n
\nforward-looking statements relating to expectations, plans, and prospects
\nincluding statements relating to the anticipated benefits that will be derived
\nfrom this transaction, the expected acceleration of Okta’s growth as a result
\nof this transaction, the impact to the Okta Identity Cloud, expected synergies
\nresulting from the transaction and expansion of Okta’s customer base. These
\nforward-looking statements are based upon the current expectations and beliefs
\nof Okta’s management as of the date of this release, and are subject to certain
\nrisks and uncertainties that could cause actual results to differ materially
\nfrom those described in the forward-looking statements including, without
\nlimitation, the risk of adverse and unpredictable macro-economic conditions,
\nthe failure to achieve expected synergies and efficiencies of operations
\nbetween Okta and Auth0, the ability of Okta and Auth0 to successfully integrate
\ntheir respective businesses, the failure to timely develop and achieve market
\nacceptance of the combined business, the loss of any Auth0 customers, the
\nability to coordinate strategy and resources between Okta and Auth0, and the
\nability of Okta and Auth0 to retain and motivate key employees of Auth0.
\nAdditional factors that could cause actual results to differ materially from
\nthese forward-looking statements are detailed from time to time in the reports
\nOkta files with the Securities and Exchange Commission, including in Okta’s
\nAnnual Report on Form 10-K for the fiscal year ended January 31, 2021. All
\nforward-looking statements in this press release are based on information
\navailable to Okta as of the date hereof, and Okta disclaims any obligation to
\nupdate these forward-looking statements.<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"