Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, October 29, 2021

Article Excerpt

OKTA INC., $247.18, symbol OKTA on Nasdaq, is a cybersecurity firm that provides companies with workforce identity and customer identity solutions. Customers use the San Francisco-based firm’s security software to support (a) workers who need to access corporate systems, (b) students who must use remote-learning apps, and (c) consumers who must authenticate their identities online. This includes two-step identification processes. For example, users first log-in with a username and password—but then the website sends a unique, time-sensitive passcode to, say, a cell phone. Users then need to enter that information to access their accounts. Okta first sold shares to the public and began trading on Nasdaq in April 2017 at $17 a share. In May 2021, it completed the acquisition of Seattle-based Auth0 for $6.5 billion. Auto0 helps businesses manage customers online. It offers a platform aimed at letting businesses authenticate those using their services, including both consumers and other companies.Auth0’s platform includes services like single sign-on, two-factor authentication, password-free login capabilities, and the…