Recently, Oracle Corp a 43-year-old software company joined the competition for acquisition of TikTok, it seems to be a new potential bidder for the US operation of TikTok seeking to rival Microsoft and Twitter to acquire the video streaming app.
Oracle had bid for apps operations in the U.S, Canada, Australia, New Zealand, and North America. They’ve reached several investors including Sequoia Capital and General Atlantic. Both firms made an attempt to take a majority stake in TikTok.
U.S Government recently has claimed that TikTok is a security threat to Americans and ordered to close all business deals within 45 days. Whereas Donald Trump is seen to be in support for Microsoft to go for the TikTok bid and close the deal as early as possible.
Also, Twitter in the last week had shown interest in the U.S operations of Tiktok. Though its chances seem to be less because of its smaller size.
Oracle is said to be at the stage of negotiating with the deal also they had to face Trump’s deadline.
Oracle is mainly known for its Java Software Platform. And they can provide an infrastructure to support an ecosystem for the huge database of TikTok. This could also be a strategic move from Oracle to generate sales from cloud offerings and software licensing.
Oracle recently has stopped making deals as it has acquired its market over the globe with its market of $43 bn. So it seems to an easy deal for Oracle for the acquisition of TikTok.