![]() The company also said that quarterly revenue climbed 50 percent on a year-over-year basis to $115.5 million, with Okta's loss in the quarter ended Jan. Okta's stock fell $5.71, or 7.03 percent, to $75.50 in after-hours trading Thursday. "We are excited by how this acquisition can accelerate our innovation and enable deeper value for our customers." "With the integration of Azuqua’s technology into our platform, we plan to rapidly deliver more advanced use cases by connecting more apps and supporting more complex workflows," McKinnon said. The addition of Azuqua's capabilities should "supercharge" Okta's existing product and go-to-market motion, according to McKinnon. Since Okta's life-cycle management tool is already in the marketplace today, McKinnon said the company already knows how to sell and market the product and has an existing base of customers. As a result, McKinnon expects concrete integration of Azuqua's workflow automation capabilities into Okta's life-cycle management product to be delivered in less than a year. "We've actually looked at this workflow identity process automation space for quite a bit and talked to a lot of different companies, and we are pretty fortunate to have found Azuqua and found a team that's so like-minded with us," Okta CEO Todd McKinnon said during the company's earnings call Thursday.Īzuqua was born and built in the cloud with the same kind of engineering philosophy and vision of the world as Okta, McKinnon said. IT teams, meanwhile, will be able to use pre-built connectors and logic to create streamlined processes and increase operational speed, according to Okta. The San Francisco-based enterprise identity vendor said its $52.5 million acquisition of Seattle-based Azuqua will enable customers to automate more of their business processes and connect to more apps. ![]() ![]() Taken together, you can see a company that is trying to become a more comprehensive identity platform.Okta has agreed to purchase Azuqua to better automate the business processes and flow of identities between applications and services for employees, partners and customers. This represents Okta’s largest acquisition to-date and follows Stormpath almost exactly two years ago and ScaleFT last July. In a modern enterprise, people and work are constantly shifting and moving between applications and services and combining automation software with identity and access management could offer a seamless way to move between them. And, product teams will be able to embed this technology in their own applications alongside Okta’s core authentication and user management technology to build…integrated customer experiences,” Kerrest wrote. “With Okta and Azuqua, IT teams will be able to use pre-built connectors and logic to create streamlined identity processes and increase operational speed. In a blog post announcing the news, Okta co-founder and COO Frederic Kerrest saw the combining of the two companies as a way to move smoothly between applications in a complex workflow without having to constantly present your credentials. workflow automation startup, for $52.5 million. During its earnings report yesterday afternoon, Okta announced it intends to acquire Azuqua, a Seattle, Wash.
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