Cyera Signs Deal to Buy Oasis Security for $1 Billion

Cyera signed a letter of intent on July 28 to buy Oasis Security for about $1 billion, per SecurityWeek. Roughly $700 million of that is cash, the rest Cyera stock.

Every agent a company runs needs a login: a service account, an API key, an OAuth token, credentials to talk to other agents. Oasis built its business tracking and locking those down. Cyera is paying roughly $1 billion to own that layer before agents outnumber the people running them.

Oasis closed a $120 million Series B just four months before the sale. Cyera raised $600 million at a $12 billion valuation only weeks earlier, so it's spending fresh money almost immediately.

TechCrunch, Globes and Sequoia Capital all corroborated the terms. At roughly $1 billion, it ranks as 2026's second-largest cybersecurity acquisition, trailing only Accenture's $3.2 billion stake in Dragos.

The bet underneath the price

Data security and machine-identity security are becoming one product, because an agent's credentials are now as sensitive as the data they unlock. Other well-funded data-security vendors will feel the same pressure, and buying an identity startup is faster than building one.

Elsewhere in the same coverage, Act Security emerged from stealth with $60 million to kill excess permissions instead of patching vulnerabilities. That's a plausible target for the next deal like this one.

Watch whether Cyera actually merges the products or runs Oasis as a bolt-on. A four-month-old company integrated badly is worth a lot less than the number on this term sheet.