Deal Structure and Terms
<cite index="1-1">Cybersecurity unicorn Cyera announced that 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="3-4">On 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="4-15">According to SecurityWeek's cybersecurity M&A tracker, this is the second-largest deal of 2026; the largest is 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 CEO, and Tamar Bar-Ilan, its CTO. Both are graduates of Israel's Talpiot program and veterans of Unit 8200.</cite> <cite index="5-10">The company developed a cloud data security platform — known in the industry as a Data Security Posture Management (DSPM) platform — that has expanded into AI security.</cite> <cite index="1-13,1-14">Although Cyera is privately held and does not disclose its financial results, it is estimated to generate more than $200 million in Annual Recurring Revenue (ARR), having reportedly tripled its ARR for three consecutive years.</cite> <cite index="2-1">The acquisition was announced shortly after Cyera raised $600 million at a $12 billion valuation.</cite> <cite index="5-7">To date, the company has raised approximately $2.3 billion.</cite>
<cite index="6-4">Oasis Security was founded in 2022 by Danny Brickman, CEO, and Amit Zimerman, Chief Product Officer (CPO), both veterans of Unit 81 — the Israel Defense Forces Intelligence Corps' Technological Unit.</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="1-12">Oasis Security 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, in March 2026.</cite>
Strategic Rationale
<cite index="4-8">Cyera said the acquisition of Oasis will unify identity and data security into a single platform built to handle the growing use of AI agents.</cite> <cite index="3-6">The company estimates that combining the capabilities of the two companies will allow organizations to manage data security, identities, and AI agents using a single system.</cite>
The market context underpinning the deal is significant. <cite index="13-12">According to data cited by Palo Alto Networks, machine identities now outnumber human identities 82-to-1, yet the systems designed to govern access were built for people, not autonomous systems.</cite> <cite index="13-8,13-9">Over the past year, Oasis reported new ARR growing 5x year over year, with the majority of its client base coming from Fortune 500 companies.</cite>
Acquisition Context
<cite index="1-16,1-17,1-18,1-19">Cyera has been on an acquisition spree in recent months, purchasing Genie Security for an estimated $50 million in May, Ryft for an estimated $100 million in April, and Trail Security for $162 million, as well as Otterize and Shape AI in earlier transactions.</cite> The Oasis deal, however, is the largest in Cyera's history and by far its most strategically consequential, positioning the combined company at the intersection of data security and identity governance for the enterprise AI era.
<cite index="9-4">The acquisition reflects growing demand for cybersecurity tools designed to defend enterprises against AI-driven threats as the number of autonomous agents deployed across organizations continues to expand.</cite>