Today: Jul 22, 2024

Okta’s massive deal: Spera snatched at $100M in cybersecurity acquisition.

7 months ago

Okta, an American identity and access management company, is acquiring Israeli cybersecurity company Spera for approximately $100-130 million. Spera has developed a solution for end-to-end identity attack surface management, risk reduction, and identity threat prevention, detection, and response. This marks Okta’s first acquisition in Israel and is expected to help Okta expand its presence in the identity and access management market.

Spera raised $10 million in seed funding earlier this year, with participation from leading enterprises such as Google, Palo Alto Networks, Akamai, Zendesk, and Zscaler. The final purchase amount will depend on meeting milestones and payments to Spera’s employees.

Spera’s platform creates a real-time, continuously updated inventory of identities and access across cloud and on-prem environments. This inventory is analyzed and normalized to provide security teams with insights for remediating and preventing identity-driven attacks.

Okta, founded in 2009 and based in San Francisco, has around 6,000 employees and recorded revenues of about $1.8 billion in the last year. With this acquisition, Spera’s 25 employees are expected to form the base for Okta’s research and development center in Israel.

The cybersecurity industry is gaining increasing importance in the face of growing identity theft hacks. This acquisition highlights Okta’s commitment to enhancing its cybersecurity solutions and expanding its market presence.