Oracle is reportedly joining Microsoft to possibly acquire the Chinese-owned video platform TikTok.
In a report from Financial Times, Oracle has had preliminary discussions with TikTok parent company ByteDance on a possible acquisition. Oracle has expressed interest in purchasing the app’s operations in the US, Canada, New Zealand, and Australia. Sources have said that Oracle has been working with a group of US investors, including General Atlantic and Sequoia Capital, to secure a bid for the company’s operations.
Meanwhile, Microsoft has also been making an aggressive bid of its own. Following the executive order doled out by the Trump administration, which demanded ByteDance to sell its TikTok operations in the US in 90 days, Microsoft stepped in to hold discussions with TikTok’s parent company.
Microsoft is also interested in purchasing TikTok in Europe and India. In India, Prime Minister Narendra Modi has banned the video app. However, Financial Times‘ sources have said ByteDance is opposed to selling assets beyond the US, Canada, New Zealand, and Australia.
Trump’s executive order states that TikTok must be purchased by an American-based company. Initially, the Trump administration had given ByteDance a 45-day window but has since extended that to 90 days.
Oracle was co-founded by Larry Ellison, who is openly supportive of President Trump. Financial Times has said it is unclear whether that support will dictate whether the White House is more supportive of Oracle’s bid over Microsoft’s. Nonetheless, a deal must be made by mid-November.
