Okta has entered into a definitive agreement to acquire Auth0, an identity platform for application teams, for $6.5 billion. The transaction, subject to customary regulatory approvals, is expected to close during the quarter ending July 31, 2021, Okta said in a statement.

Auth0 will operate as an independent business unit inside of Okta, and both platforms will be supported, invested in, and integrated over time, says Okta.

Morgan Stanley is serving as financial advisor and Latham & Watkins is serving as legal counsel to Okta. Qatalyst Partners is serving as financial advisor and Perkins Coie is serving as legal counsel to Auth0.

[Image courtesy: Auth0]

(Update: March 16, 2021)