Joining in after Microsoft and Twitter, enterprise software giant Oracle has also entered the race to acquire TikTok’s operations around the globe. Larry Ellison’s Oracle has reportedly been in talks with US-based TikTok investors to buy its operations in Australia, America, Canada, and New Zealand.
Both Oracle and TikTok have declined to comment on this development.
President Donald Trump has vowed to shut down the popular video-sharing app TikTok in the country if it’s not taken over by an American company by November. He cited security concerns saying that the Chinese government could pressure Bytedance into collecting and reporting personal data from Americans, especially since the app has already been involved in multiple controversies regarding illegal data collection.
The president has issued two executive orders, one that prohibits American companies from doing any business with TikTok and another that seeks to unwind Bytedance’s 2017 acquisition of Musical.ly, the original version of the app we now know as TikTok.
So far, Microsoft is the leading contender for the acquisition as its reportedly looking to buy the app’s global operations. However, interest from additional companies such as Twitter and Oracle could give TikTok an opportunity to negotiate a better deal.
It is currently unclear whether the White House supports Microsoft or Oracle more in this matter and its too soon to say which company will end up acquiring it. Bytedance is against the idea of American companies buying off their operations beyond America, Canada, and New Zealand, meaning that we could likely end up with a partial acquisition instead.