Oracle Is Said to Join Race to Buy TikTok's U.S. Operation

August 18, 2020 6:23 pm

Beijing (PingWest)- Oracle is in preliminary talks with ByteDance for the acquisition of TikTok’s, the popular ByteDance-owned short video app that President Donald Trump threatened to ban in the unless a U.S company acquire it by mid-November, the Financial Times Reported on Monday.

Oracle was seriously considering acquiring TikTok’s operations in the U.S, Canada, Australia and New Zealand, and it was working with a group of U.S investors that already own a stake in ByteDance, including General Atlantic and Sequoia Capital.

Microsoft has emerged earlier as a lead contender to acquire TiTok in August. Later, Twitter had also approached ByteDance to talk the possibilities of acquiring U.S. operations of TikTok.

The participation of Oracle into the acquisition provided ByteDance with a alternative option beyond Microsoft’s offer, but it is still remain unknown whether the White House vote in favor of Oracle’s offer than that of Microsoft, the Financial Time said.

The Financial Times said that Microsoft has also seriously considered an option to acquire TikTok’s global operations, the company is particularly interested in buying TiKTok in Europe and India

However, ByteDance is rejected to selling any assets beyond those in the U.S, Canada, Australia and New Zealand.

U.S. President Donald Trump last week ordered ByteDance to sell the U.S. operations of the video app within 90 days.