Okta Acquires Security Firm Spera in Reportedly Over $100 Million Deal

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Okta’s Strategic Move in Identity Threat Detection and Response (ITDR)

In a bid to strengthen its position in the identity and access management market, Okta has announced its acquisition of security firm Spera. The deal is expected to close during the fiscal first quarter, commencing early February 2024. This strategic move aims to bolster Okta’s existing ITDR capabilities while providing customers with advanced tools for elevating their identity security posture.

Acquiring Spera: A Valuation of $100 Million to $130 Million

Although the terms of the deal are not publicly disclosed, sources close to the matter have revealed that Okta is paying approximately $100 million to $130 million for Spera. The acquisition is contingent on various milestones and is expected to be completed in the coming months.

Building on Existing ITDR Capabilities

The addition of Spera’s technology will enable Okta customers to better assess their identity infrastructure, apps, and services, thus enhancing their overall security posture. This strategic move comes at a time when research suggests that 90% of organizations will employ an embedded ITDR strategy by 2026.

Benefits of the Acquisition

The integration of Spera’s technology is expected to bring several benefits to Okta customers:

Richer Insights and Technology: Customers will gain access to more advanced insights and tools for improving their identity security posture.
Improved Security Posture Management: Okta will equip customers with tangible suggestions for enhancing their security posture, including identifying SSO exclusions for privileged and service accounts.
Quick Detection and Remediation of Risks: The acquisition will enable customers to quickly identify and mitigate potential threats before they become critical.

Spera’s Expertise in Identity Security

Spera is a renowned security firm that provides tools for discovering vulnerabilities across user populations, prioritizing security issues based on regulations, attack vectors, and industry best practices. Co-founded by entrepreneurs Dor Fledel and Ariel Kadyshevitch, the platform has been instrumental in helping companies lower their license costs by identifying dormant accounts that can be turned off.

Okta’s Commitment to Enhancing Identity Security

Okta’s acquisition of Spera demonstrates its commitment to equipping customers with the necessary tools and knowledge for navigating an increasingly challenging security landscape. As the leading identity partner, Okta aims to deliver more secure outcomes for its customers through strategic acquisitions like this one.

Okta’s Recent Acquisitions and Performance

This acquisition comes on the heels of Okta’s recent purchase of password manager Uno, backed by a16z. The company has also reported a rosy fiscal quarter, beating Wall Street expectations in Q4 2023. With Spera’s technology integrated into its platform, Okta is poised to continue its upward trajectory.

Conclusion

Okta’s acquisition of Spera marks an exciting development in the identity and access management space. By bolstering its existing ITDR capabilities with advanced tools for security posture management and risk detection, Okta is well-positioned to deliver even more secure outcomes for its customers. This strategic move underscores the company’s commitment to staying ahead of emerging threats in the rapidly evolving cybersecurity landscape.