TikTok battle hots up as Oracle enters fray - Mobile World Live

TikTok battle hots up as Oracle enters fray

18 AUG 2020

Software company Oracle emerged as the latest party linked to an acquisition of TikTok’s operations in four markets, days after president Donald Trump gave the app’s owner ByteDance 90 days to divest its operations in the US.

Financial Times (FT) reported Oracle held preliminary talks with ByteDance and is “seriously considering” acquiring its operations in the US, Canada, Australia and New Zealand.

Oracle is working on the deal with companies which already own a stake in ByteDance, including private equity companies General Atlantic and Sequoia Capital.

Oracle’s talks will alert Microsoft, which emerged as a potential buyer and lead contender earlier this month. Twitter was also reportedly interested, but FT stated there are doubts over the company’s ability to finance a deal.

Microsoft is also reportedly interested in acquiring TikTok’s global operations, with a specific interest in Europe and India, although ByteDance is not willing to sell operations beyond the quartet of markets.

ByteDance has been pushed into a sale after security concerns were raised about the app, including possible links to Beijing. Trump’s latest order requires the destruction of related data and the sale of its US operations within three months.

The order requires potential buyers to secure approval from the Committee on Foreign Investment in the US.

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Kavit Majithia

Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >>

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