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Okta to pay $74.5M for workflow automation provider

Set to acquire Azuqua by the end of April

Identity management vendor Okta has entered into a definitive agreement to acquire US-based Azuqua, a cloud-based business application integration and workflow automation provider, for up to $74.5 million (US$52.5 million).

Okta, who listed on Nasdaq in April 2017, closed its 2019 fiscal year with US$399 million revenue, or a 56 per cent year-over-year growth.

The acquisition is expected to be completed by the end of April 2019.

By combining Okta's Identity Cloud with Azuqua's integration platform, Okta's customers will be able to automate more business processes and connect more apps.

IT teams will be able to use pre-built connectors and logic to create streamlined processes and increase operational speed, according to Okta.

Product teams will be able to embed this technology in their own applications alongside Okta’s core authentication and user management technology to build delightful, integrated customer experiences.

"Azuqua’s power to connect applications will multiply the benefits of the the Okta Integration Network for Okta’s customers, enabling them to unlock data, create seamless business processes and eliminate cloud silos," Okta COO Frederic Kerrest said.

"We look forward to bringing on the Azuqua team to further our vision to enable any organisation to use any technology."

Azuqua founder and chief product officer Nikhil Hasija will join Okta’s engineering team to help lead the company’s workflow automation strategy, beginning with the integration of Azuqua’s workflow offering into Okta's Lifecycle Management product.