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Oracle challenges Microsoft to acquire TikTok’s US business: Report

By Prakhar Khanna August 18, 2020, 12:47 am

Microsoft is confirmed to be in talks to purchase the US arm of TikTok. Now, a new report from Financial Times claims that Oracle could purchase TikTok‘s US business. The news comes after the Trump administration ordered ByteDance to divest TikTok’s US operations within 90 days.

According to the report, Oracle has held preliminary talks with TikTok’s Chinese owner, ByteDance and it is seriously considering purchasing the app’s operations in the US, Canada, Australia and New Zealand. The company is said to be working “with a group of US investors that already own a stake in ByteDance, including General Atlantic and Sequoia Capital.”

Microsoft now has a serious contender in the race to acquire TikTok’s US operations. To recall, Twitter was also said to have held early-stage talks with TikTok. However, there were concerns about the company’s ability to finance the deal.

Source: Financial Times


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