Okta has announced plans to acquire security firm Spera as part of a deal believed to range between $100 million and $130 million.
The deal, which marks the firm’s third acquisition in the space of just over six months, will enable Okta to build on its existing ITDR (Identity Threat Detection and Response) capabilities.
Okta said the Spera acquisition will help increase its current threat visibility capabilities, allowing customers to uncover threats directly within their SaaS and infrastructure applications, rather than just through their central IDPs (Identity Providers).
The move will also enable Okta to leverage Spera’s posture management platform, for which they raised $10 million back in March, and ultimately help lower their company's license costs by finding and removing dormant accounts.
In a blog post confirming the acquisition, Arnab Bose, chief product officer for Okta’s Workforce Identity Cloud said the deal underlines the company’s sharpened focus on improving its identity product offerings.
“Earlier this year, we announced key capabilities to Okta FastPass, our phishing-resistant, passwordless authenticator; unveiled Identity Threat Protection with Okta AI at Oktane; and released Okta Privileged Access in GA,” he wrote.
“This acquisition continues our investment in secure Identity product offerings and furthers our vision to free everyone to safely use any technology.”
Bose said the deal is expected to close during Okta’s fiscal first quarter, beginning February 1, 2024.
Okta ends 2023 on a high
This latest deal follows hot on the heels of another acquisition in October involving password management application firm Uno.
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Earlier this year, the firm also purchased Arengu, a platform designed to code onboarding and signup systems.
Okta has had a challenging year, and this latest acquisition points toward a concerted effort at the firm to bolster both its product offerings and broader security posture.
In October, Okta suffered a data breach that saw threat actors gain access to its support management system earlier that month. The company revealed attackers were able to gain access to sensitive customer data and HTTP archive files.
