Okta, a workforce identity provider, recently acquired customer identity startup, Auth0 in an all-stock deal valued at approximately $6.5 billion.
As per Okta, it will use Auth0’s user identification platform to promote growth in the $55 billion identity market divided into $30 billion for workforce identity and $25 billion for customer identity.
A few years ago, there weren’t any pure-play CIAM vendors. Major players like Oracle, IBM, and Microsoft tried to expand their Employee IAM service to a few of the customer identity use cases. Newer players such as ForgeRock, Gigya, Auth0, and LoginRadius have now started accelerating the adoption of the Customer IAM space.
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