Quick Hits

Okta to Buy Rival Auth0

The deal, valued at $6.5 billion, will bring together competitors in the identity management space.

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.

Related Content:

Inside Strata's Plans to Solve the Cloud Identity Puzzle

Special Report: How IT Security Organizations Are Attacking the Cybersecurity Problem

New From The Edge: Cybercrime 'Help Wanted': Job Hunting on the Dark Web

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.

Read more here.