Okta buys workflow automation startup Azuqua for $52.5M

Cloud identity management company Okta Inc. today announced the acquisition of “low code” workflow automation startup Azuqua Inc. in a deal valued at $52.5 million.The announcement came as the company posted its fourth-quarter earnings results, beating expectations but coming up short on guidance, causing its stock to fall sharply in after-hours trading.Okta said it will integrate Azuqua’s technology into its Lifecycle Management products, which are used by enterprises to provision applications and services for new employees. Azuqua’s technology helps to integrate data from disparate sources across customer backend systems. Okta said this would help it synchronize employee identities across its workplace apps, such as those used for human resources and payroll systems.“Identity is the unifying component that can make all of these technologies interact seamlessly and securely,” Frederic Kerrest, Okta’s co-founder and chief operating officer, said in a statement. “Identity will power the next wave of movement to best-in-breed technology.