Ocean Tomo Industry Analysts Joseph Sobczak and Sarah Zhu shared with me an important update on the draft of the Ocean Tomo Cybersecurity Report. In the report, they share notable M&A activity in the Cybersecurity space. Among the M&A activities they will report on in their upcoming report is the announcement yesterday from Okta, Inc. (NASDAQ: OKTA), a leading independent identity provider, to acquire Auth0. Auth0s platform to authenticate, authorize and secure access for applications, devices, and users, compliments Okta, together accelerating Okta’s growth in the $55 billion identity market. In the press release announcing the transaction, Okta CEO Todd McKinnon shares the “tremendous value for both current and future customers” by combining Auth0’s “developer-centric identity solution with Okta Identity Cloud.” According to Okta’s 8-k filing with the Securities and Exchange Commission (SEC), the $6.5 billion all-stock transaction. Interestingly, the Okta acquisition is at nearly three times the valuation of Auth0’s Series F funding announced in the auth0 blog in July 2020. Request a copy of the Ocean Tomo Cybersecurity Industry Report, scheduled to be released this summer.
Daniel Principe is a Director with the Valuation and Intellectual Property Strategy group working from the Chicago office of Ocean Tomo, a part of J.S. Held. The practice area appraises intellectual property and various intangible assets for acquisitions and divestitures, bankruptcy and restructuring, establishment of intellectual property monetization strategies including licensing, mergers and joint venture/partnership formations, litigation support, and financial reporting and tax matters. Mr. Principe also oversees the Ocean Tomo Industry Analysts who report on the industry trends, deal activity, and share unique insights related to technology and intellectual property informing business value.
Dan can be reached at [email protected] or +1 312 377 4426
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