Identity solution provider Okta has announced plans to acquire cloud identity start-up and competitor Auth0 in a deal valued at approximately $6.5 billion.
Company officials say Auth0, which raised private capital in July at a $1.92 billion valuation, will operate as an independent business unit inside of Okta. Their platforms will be integrated over time.
Okta's and Auth0's boards have approved the transaction, which is subject to receipt of required regulatory approvals and customary closing conditions. The deal is expected to close in July.
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