Cyera, a data security company, has signed a letter of intent to acquire Oasis Security for roughly $1 billion.
The deal was announced Tuesday. Most of the payment will come in cash, with the rest paid out in Cyera shares.
Oasis Security specializes in a growing area of cybersecurity known as non-human identity protection. This covers software systems, bots, and AI agents rather than human employees.
As companies adopt more AI agents to handle tasks, they need tools to track what those agents are doing. They also need systems that control what data and software each agent can access.
Oasis was founded in 2022. Since then, the company has raised about $195 million from investors including Accel, Craft Ventures, and Cyberstarts.
Cyera and Oasis share two investors, Accel and Cyberstarts, which already had ties to both companies before the acquisition talks began.
Cyera's Recent Acquisition Activity
This deal is not Cyera's first purchase this year. The company has been buying smaller cybersecurity firms at a fast pace.
Cyera recently acquired Ryft, a company backed by Index Ventures. It also purchased Genie Security, a startup that was less than one year old at the time of the deal.
Adding Oasis to that list gives Cyera a third acquisition in a short stretch of time. The company has said it plans to combine Oasis's technology with its existing identity and data security tools.
The goal is to build one unified platform. This platform would handle both data protection and identity monitoring for AI agents in a single system.
Cyera's Funding and Revenue
Cyera has grown quickly since it was founded five years ago. The company recently raised $600 million in a funding round that valued it at $12 billion.
That funding round pushed Cyera's total money raised to about $2.3 billion since it started.
Despite the large valuation, Cyera is not yet profitable. TechCrunch reported last month that the company posted operating losses even as its revenue grew.
Cyera passed $150 million in annual recurring revenue, according to that same report. That figure reflects steady growth, but the company still spends more than it brings in.
The acquisition of Oasis adds to Cyera's push to expand its product lineup while it works toward profitability. The deal is expected to close after standard regulatory steps are completed, though neither company has given an exact closing date.
