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    OKTA   US6792951054

OKTA, INC.

(OKTA)
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Auth0 Expands Reach to Mexico with TEC360 Partnership

11/17/2021 | 09:01am EST

Leading LATAM identity providers support Mexico’s top companies with identity management and security needs

The Auth0 Identity Platform, a product unit within Okta (NASDAQ: OKTA), announced today a new partnership with TEC360, a leading provider of cloud solutions for enterprises in Mexico and Latin America (LATAM). TEC360 is Auth0’s first partner in Mexico, and together, the two companies are helping enterprises across the region meet their evolving identity management and security goals.

TEC360 operates in Mexico and LATAM, and provides cloud solutions for enterprises’ technological and security needs including customer experience (CX) and employee experience (EX), change management, edge infrastructure, identity management, and internet of things (IoT). The addition of TEC360 to Auth0’s Partner Program and Auth0’s growth in the region indicates the growing demand and importance of identity management in securing the new and complex digital world as businesses have to meet the ever-growing expectations for security, privacy, and convenience.

Globally, the pandemic has accelerated digital road maps across industries, and businesses now have to quickly respond to changes in digital expectations and buying patterns — and in LATAM the technology penetration has been rapidly growing at an average rate of 65% year-over-year since 2003 (2020 Latin America Digital Transformation Report), with Mexico as the second highest country in LATAM, following Brazil. As the number of online identities continue to increase, so do the number of online threats — a modern identity platform offers the right balance of convenience, privacy, and security to protect and retain customers.

“At TEC360, our commitment is to provide enterprise customers with the best cloud solutions that give their organization and customers more choice and flexibility to accelerate growth and innovation,” said Peter Wiegandt, CEO of TEC360. “Identity management is a critical part of these projects, and by joining forces with Auth0 we will give our customers in Mexico and throughout LATAM the extensible building blocks to solve for an identity use case without having to compromise between convenience, privacy, or security.”

“More than ever, a modern identity solution can help accelerate digital transformation, remove security risks, and positively impact business through improved user experiences,” said Ghazi Masood, SVP and General Manager, Americas at Auth0. “We are proud to join forces with TEC360 to help customers in the region customize identity for their exact use case, enabling them to free up time and resources previously spent on the complexities of identity management to focus more on their core value proposition.”

About Auth0

The Auth0 Identity Platform, a product unit within Okta, takes a modern approach to identity and enables organizations to provide secure access to any application, for any user. Auth0 is a highly customizable platform that is as simple as development teams want, and as flexible as they need. Safeguarding billions of login transactions each month, Auth0 delivers convenience, privacy, and security so customers can focus on innovation. For more information, visit https://auth0.com.


ę Business Wire 2021
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Financials (USD)
Sales 2022 1 277 M - -
Net income 2022 -822 M - -
Net cash 2022 688 M - -
P/E ratio 2022 -34,3x
Yield 2022 -
Capitalization 29 283 M 29 283 M -
EV / Sales 2022 22,4x
EV / Sales 2023 16,2x
Nbr of Employees 4 584
Free-Float -
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Mean consensus BUY
Number of Analysts 30
Last Close Price 188,26 $
Average target price 279,32 $
Spread / Average Target 48,4%
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Managers and Directors
Todd McKinnon Chairman & Chief Executive Officer
Brett Tighe Chief Financial Officer, Treasurer & SVP-Finance
Vicky Xiong VP-Technology Services & Business Technology
Alvina Antar Chief Information Officer & Senior Vice President
Sagnik Nandy Chief Technology Officer & President-Technology
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