Auth0, the billion-dollar Seattle-area startup that is a leader in identity authentication software, is being acquired by Okta, another leader in the space, the companies announced Wednesday. The all-stock deal is valued at approximately $6.5 billion — one of the largest acquisitions of a Seattle company.
Auth0 was founded in 2013 by Eugenio Pace, who formerly ran the patterns and practices group at Microsoft. The startup’s valuation of $1.9 billion, as of July 2020, made it a rare Seattle unicorn.
“Okta and Auth0 have an incredible opportunity to build the identity platform of the future,” Pace said in a news release. “We founded Auth0 to enable product builders to innovate with a secure, easy-to-use, and extensible customer identity platform. Together, we can offer our customers workforce and customer identity solutions with exceptional speed, simplicity, security, reliability and scalability. By joining forces, we will accelerate our customers’ innovation and ability to meet the needs and demands of consumers, businesses and employees everywhere.”
This is a developing story. Check back for updates.