Okta Sets the Stage for the Next Round of Growth
Earlier this month, Okta (NASDAQ: OKTA) announced a big-time acquisition.
The cloud-based identity management platform said it would take over Auth0, a well-regarded provider of customer-identity solutions, in an all-stock deal valued at $6.5 billion at the time of announcement, or roughly 20% of Okta's market cap.
The deal will strengthen Okta's leadership in the software-as-a-service (SaaS) identity-and-security market, especially in the customer identity segment and international markets. Okta will also be absorbing a cloud-native company that some had considered to be its biggest competitor.
Source Fool.com
