December 20, 2023 at 11:39AM
Okta has agreed to acquire Israeli startup Spera Security to bolster its Identity threat detection and security capabilities. The deal, valued at around $100-130 million, aims to provide customers with enhanced technology for identifying and addressing identity-driven attacks. Spera’s platform offers continuous protection from identity-based attacks through proactive monitoring and real-time risk analysis.
Key Takeaways from Meeting Notes:
1. Okta has announced the acquisition of Israeli startup Spera Security to enhance its identity threat detection and security posture management capabilities.
2. Spera Security, backed by $10 million in funding from YL Ventures, provides proactive, continuous protection from identity-based attacks and offers a platform for real-time inventory of identities and access across cloud and on-prem environments.
3. The acquisition is expected to equip Okta customers with richer insights and technology to elevate their Identity security posture management and quickly identify, detect, and remediate risks.
4. The deal’s value is estimated to be in the range of $100-130 million, although the specific terms were not disclosed.
5. Okta has been targeted by hacking groups, with reports of sophisticated attacks aimed at its infrastructure and IT service desk personnel.
6. Last year, Okta customers were targeted as part of a financially motivated cybercrime campaign named 0ktapus.
Overall, the acquisition of Spera Security is a strategic move for Okta to bolster its security capabilities in the face of increasing cyber threats.