Oracle Corp Joins the Race to Purchase TikTok’s US Operations

After Microsoft and some other major US companies, Oracle Corp has also shown intent in purchasing TikTok’s US operations. According to a source, Oracle has held preliminary negotiations with ByteDance. The company showed keen interest in purchasing the app’s operations in the United States, Canada, Australia, and New Zealand.

Oracle Corp Joins the Race to Purchase TikTok’s US Operations

Already, Oracle was working with some US investors that have a stake in ByteDance which includes General Atlantic and Sequoia Capital. However, ByteDance and TikTok did not comment on current development.

Recently, the social media platform Twitter had reached ByteDance to show its intent in acquiring the US operations of TikTok. While on the other hand, Microsoft Corp is still the favorite to secure a deal. Earlier this month, Microsoft has also expressed its utmost desire to acquire TikTok’s global operations.

Microsoft is especially interested in purchasing TikTok in Europe and India, where it was recently banned by the incumbent Indian government after border skirmishes took place with China. However, according to the report, ByteDance strongly rejects the idea of selling any assets except those in the United States, Canada, Australia, and New Zealand.

Last week, President Donald Trump dictated ByteDance to leave the US operations of the TikTok within 90 days, therefore increasing pressure on the Chinese company over concerns regarding the safety and privacy of the personal data it handles.

Check out? TikTok updates community guidelines in Urdu to help maintain a supportive and welcoming environment for its Pakistan users

 

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