Why Okta Just Made a $6.5 Billion Acquisition

Jeremy Bowman, The Motley Fool
·4 min read
Why Okta Just Made a $6.5 Billion Acquisition

Shares of Okta (NASDAQ: OKTA) were sliding after the company reported fiscal 2021 fourth-quarter earnings on Wednesday. COO Frederic Kerrest explained in an interview that customer identity management is the kind of thing that companies would like to be able to deploy directly into their app as they would with Twilio in communications or Stripe in payments, but it's hard to build the right solutions, and it can be costly if it's not done correctly, leaving an opening for a data breach.