Okta to acquire workflow automation startup Azuqua for $52.5M
During its earnings report yesterday afternoon, Okta announced it intends to acquire Azuqua, a Bellevue, Washington workflow automation startup for $52.5 million.
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.
“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. 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.
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.
This represents Okta’s largest acquisition to-date and follows Stormpath almost exactly two years ago and ScaleFT last July. Taken together, you can see a company that is trying to become a more comprehensive identity platform.
Azuqua, which had raised $16 million since it launched in 2013, appears to have given investors a pretty decent return. When the deal closes, Okta intends to bring its team on board and leave them in place in their Bellevue offices, creating a Northwest presence for the San Francisco company. Azuqua customers include Airbnb, McDonald’s, VMware and Hubspot,
Okta was founded in 2009 and raised over $229 million before going public April, 2017.
Post by startupsnows.blogspot.com
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