Okta Acquires Auth0 for $6.5B

TL;DR

Okta buys Auth0 for $6.5B to boost its identity game. Big move!

AI Summary

Okta, Inc. announced on June 20, 2024, that it has entered into a definitive agreement to acquire Auth0, Inc. for approximately $6.5 billion in a combination of cash and stock. The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions. This acquisition aims to enhance Okta's identity management platform.

Why It Matters

This significant acquisition by Okta is expected to consolidate its position in the identity and access management market, potentially leading to a more comprehensive offering for businesses.

Risk Assessment

Risk Level: medium — The acquisition involves a substantial financial commitment and integration risks, and its success depends on market reception and achieving projected synergies.

Key Numbers

• $6.5 billion — Acquisition Price (Okta's purchase of Auth0)

Key Players & Entities

• Okta, Inc. (company) — Registrant
• Auth0, Inc. (company) — Acquired Company
• $6.5 billion (dollar_amount) — Acquisition price
• June 20, 2024 (date) — Date of agreement
• third quarter of 2024 (date) — Expected closing period

FAQ

From the Filing

0001660134-24-000107.txt : 20240624 0001660134-24-000107.hdr.sgml : 20240624 20240624160651 ACCESSION NUMBER: 0001660134-24-000107 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240620 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year ITEM INFORMATION: Submission of Matters to a Vote of Security Holders ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240624 DATE AS OF CHANGE: 20240624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Okta, Inc. CENTRAL INDEX KEY: 0001660134 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] ORGANIZATION NAME: 06 Technology IRS NUMBER: 264175727 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-38044 FILM NUMBER: 241064304 BUSINESS ADDRESS: STREET 1: 100 FIRST STREET STREET 2: SUITE 600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 888-722-7871 MAIL ADDRESS: STREET 1: 100 FIRST STREET STREET 2: SUITE 600 CITY: SAN FRANCISCO STATE: CA ZIP: 94105 8-K 1 okta-20240620.htm 8-K okta-20240620 false 0001660134 1/31 0001660134 2024-06-20 2024-06-20 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________ FORM 8-K ___________________________________ CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (date of earliest event reported) June 20, 2024 ___________________________________ Okta, Inc. (Exact name of registrant as specified in its charter) ___________________________________ Delaware 001-38044 26-4175727 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 100 First Street, Suite 600 San Francisco , California 94105 (Address of principal executive offices) ( 888 ) 722-7871 (Registrant's telephone number, including area code) ___________________________________ ___________________________________ (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Class A common stock, par value $0.0001 per share OKTA The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of New Director On June 20, 2024, the Board of Directors (the “Board”) of Okta, Inc. (the “Company”), upon the recommendation of the Board’s Nominating and Corporate Gove