https://seekingalpha.com/article/4250927-okta-acquires-azuqu…
They announced this in the last earnings call and now it’s completed.
Acquired for $52.5M, probably mostly buying for the technology than for revenue as they expect a negligible effect.
Azuqua is a cloud based application integration and workflow management platform.
Looks complementary to what Okta does. If you think about the Okta report where the average Okta customer had over 80 cloud based apps. We have spent some time discussing how enterprises are collecting more and more applications. Probably one market force as to why Okta has been so successful in SSO with allowing businesses to securely manage identity across all these applications.
Now they will have an integration and workflow platform to complement that.
Together, we will provide organizations with a neutral, independent control center for automating the flow of identities between applications and services for everyone in an organization — from employees to partners, and customers. Only a neutral, independent platform like the Okta Identity Cloud can tightly unify and integrate every app in an organization, so businesses can optimize their productivity and deliver delightful customer experiences.
Okta is a good way to ride the adoption of all SaaS cloud applications across all markets. As the use of SaaS goes up the need for and use of Okta goes up. A much better play in the total space than ZUO.
Darth