Oracle latest to enter TikTok acquisition pursuit
- Tuesday, August 18th, 2020
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Oracle has become the latest big name on a list of potential suitors for parts of TikTok’s business, as the hugely popular short-form video app continues to face international scrutiny over data misuse allegations.
The computer software company has been in preliminary talks with ByteDance, TikTok’s Chinese owner, over the possibility of purchasing some of the app’s business, reports the Financial Times, citing sources. During these talks, Oracle has been working with a group of US investors that already own a stake in ByteDance, including General Atlantic and Sequoia Capital.
Should Oracle decide to actively pursue a deal, it’s likely it would be looking to purchase the app’s operations in the US, Canada, Australia, and New Zealand.
Microsoft remains the most likely to secure part of TikTok’s business, as it is still the only party to have publicly acknowledged its interest in securing TikTok’s US, Canada, Australia, and New Zealand assets.
Meanwhile, reports have suggested that Twitter has also held discussions with ByteDance over a possible purchase. However, it’s widely believed that Twitter would not have funds necessary to complete a deal.