Deal Overview
<cite index="1-1">Cybersecurity unicorn Cyera announced it has signed a letter of intent (LOI) to acquire Israeli startup Oasis Security in a deal valued at approximately $1 billion.</cite> <cite index="1-3,1-4">The majority of the consideration will be paid in cash — estimated at around $700 million — with the remainder in Cyera shares.</cite> <cite index="4-15">According to SecurityWeek's cybersecurity merger-and-acquisition tracker, the transaction is the second-largest cybersecurity deal of 2026, behind Accenture's acquisition of a majority stake in Dragos for roughly $3.2 billion.</cite>
About the Companies
<cite index="1-7,1-8">Cyera was founded in 2021 by Yotam Segev, the company's chief executive officer, and Tamar Bar-Ilan, its chief technology officer — both graduates of Israel's Talpiot program and veterans of Unit 8200.</cite> <cite index="5-10">The company developed a cloud data security platform — commonly categorized as Data Security Posture Management (DSPM) — that has since expanded into AI security.</cite> <cite index="1-13,1-14">Although privately held and not disclosing formal financial results, Cyera is estimated to generate more than $200 million in Annual Recurring Revenue (ARR), reportedly tripling that figure for three consecutive years on the back of rapid demand for AI security solutions.</cite> <cite index="1-5,1-6">The company recently raised $600 million at a $12 billion valuation and has raised approximately $2.3 billion in total funding to date.</cite>
<cite index="6-4">Oasis Security was founded in 2022 by Danny Brickman, chief executive officer, and Amit Zimerman, chief product officer — both veterans of Unit 81, the Israel Defense Forces Intelligence Corps' technological unit.</cite> <cite index="11-1,11-2">Oasis Security is a management and security solution for non-human identities (NHIs), described as the first solution purpose-built to address visibility, security, and governance of NHIs across hybrid cloud environments.</cite> <cite index="1-12">The company has raised approximately $195 million since its founding, including a $120 million Series B led by Craft Ventures, with participation from Cyberstarts, Sequoia Capital, and Accel, closed in March 2026.</cite>
Strategic Rationale
The deal centers on the accelerating proliferation of AI agents inside enterprise environments. <cite index="15-4">According to data cited by Palo Alto Networks, machine identities now outnumber human ones at a ratio of 82-to-1, yet the systems designed to govern access were built for people, not autonomous systems.</cite> <cite index="16-2,16-3">NHIs already represent the vast majority of identities in most organizations, yet most operate without ownership, lifecycle management, or audit oversight — and AI agents and Model Context Protocol (MCP) servers are appearing on managed endpoints with hardcoded secrets and broad standing access, often without security teams' knowledge.</cite>
<cite index="4-6,4-7">Oasis has developed a non-human identity and agentic access governance platform to address the growing use of AI agents in enterprise environments; its Agentic Access Management (AAM) technology provides visibility, control, and policy enforcement across critical systems.</cite> <cite index="15-8">The platform offers no standing permissions, just-in-time access, single policy control, and infrastructure-agnostic deployment.</cite>
<cite index="3-4">Upon completion of the deal — subject to the signing of a binding agreement and the satisfaction of required conditions — Oasis will become an independent unit within Cyera and will continue to operate in the field of securing non-human identities.</cite> <cite index="4-8">Cyera stated the acquisition will unify identity and data security into a single platform built to handle the growing use of AI agents.</cite>
Acquisition History and Context
<cite index="5-4,5-5">The Oasis deal follows a string of purchases by Cyera, including Trail Security for $162 million, Ryft for an estimated $100–$130 million, Genie Security for approximately $50 million, and Shape AI and Otterize in transactions whose financial terms were not disclosed.</cite> <cite index="1-15">Over the past 18 months, Cyera has grown to more than 1,500 employees across 18 countries.</cite>
The transaction remains subject to customary closing conditions; neither company disclosed a target closing date at the time of announcement.