As the number of AI agents within enterprises increases, security needs surrounding identity permissions and data access are rising rapidly. Data security company Cyera announced on Tuesday that it has signed a letter of intent to acquire Oasis Security for approximately $1 billion, with the transaction primarily in cash and the remainder in Cyera stock.

Oasis focuses on AI-powered agent identity.

Oasis Security's core focus is on non-human identity management, primarily encompassing AI agents. These systems are not traditional employee accounts, but still require authorization to access software, data, and internal systems.

As AI agents expand into enterprise scenarios, the importance of related security software increases. Enterprises not only need to track the behavior of these agents, but also need to limit the tools they can access and the systems they can access.

Cyera promotes platform integration

Cyera stated that after the transaction is completed, it plans to integrate Oasis's technology into a unified identity and data security platform. This move signifies the company's intention to place data protection and AI-powered agent access control within the same product suite.

This transaction also reflects that enterprise security vendors are accelerating the integration of their products around AI risks. Market focus is no longer limited to traditional cyberattacks, but also includes the need for defense against AI being used to amplify attack capabilities.

Financing background of the two companies

Founded in 2022, Oasis has raised approximately $195 million in funding, with investors including Accel, Craft Ventures, and Cyberstarts.

Cyera recently completed a $600 million funding round, valuing the company at $12 billion. TechCrunch previously reported that Cyera's annual recurring revenue has exceeded $150 million, but the company is still some distance from profitability. To date, the company has raised approximately $2.3 billion in total funding.

From the transaction structure, Cyera's choice to complete the acquisition primarily with cash and secondarily with equity indicates that it is leveraging its ample financing capabilities to accelerate its entry into the faster-growing niche market of AI agent security.