Oracle joins race for TikTok - report

News Broadband Global 18 AUG 2020
Oracle joins race for TikTok - report

Oracle is also in talks to buy TikTok, the Financial Times reported. The company is the latest to express interest in the social media app, after Microsoft and Twitter. Oracle is “seriously considering” buying TikTok US, Canada, Australia and New Zealand, according to the report. The FT's sources added that ByteDance is also working with investment firms such as General Atlantic and Sequoia Capital to find a buyer. 

The US government has ordered TikTok parent ByteDance to sell off its US operations within 90 days. Under the emergency order, the US government will also have the final say on who gets to buy the Chinese company’s operations. 

No price has yet been disclosed for the businesses.

Categories:

Internet,  Mobile

Companies:

Microsoft,  Oracle,  TikTok

Regions:

Global

Countries:

United States

Tags:

Messaging, Shareholders & subsidiaries, Regulations, Government policy, Corporate strategy, M&A buyouts & divestments

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