Oracle reportedly held talks with ByteDance about a possible acquisition of the popular video app TikTok in certain regions, the Financial Times reports. With that, Oracle would align itself with Microsoft and Twitter, which would also have takeover plans.
FT’s sources claim that Oracle would like to acquire TikTok in the US, Canada, Australia and New Zealand. Exploratory talks would have been held for this. The FT does not report the status or outcome of the conversations. However, it would be serious interest and Oracle would have the support of American investors who already have a stake in ByteDance, including General Atlantic and Sequoia Capital. That would make Oracle a serious rival to Microsoft, according to one of FT’s sources.
If the rumors are true, it would be a striking move by the software company, as it mainly targets the enterprise market with its products and services. Until now, Microsoft has been the lead candidate known to have interest in TikTok in certain regions. Microsoft also wants to take over the service in the US, Canada, Australia and New Zealand, but also reportedly in Europe and India. ByteDance would decline a sale for these two regions.
US President Donald Trump over the weekend obliged TikTok to sell its US division within 90 days on the grounds that there is ‘credible evidence’ that Chinese parent company ByteDance ‘may take action that threatens to harm the national security of the United States’ . The FT writes that Oracle CEO Larry Ellison has raised funds for Donald Trump and is one of the few Silicon Valley executives to openly support the president. As far as is known, Oracle has not yet responded to the rumors.