Oracle — yes, Oracle — is now a potential acquirer of TikTok.
The Financial Times, CNBC, and Reuters reported that the Redwood City, Calif.-based tech giant is in talks to buy the popular social video app’s operations in the U.S., Canada, Australia, and New Zealand. Update, 2:22 p.m. PT: Trump confirmed that Oracle is pursuing an acquisition.
Both Oracle and Microsoft want to buy TikTok, Trump says in Arizona.
— Jennifer Jacobs (@JenniferJJacobs) August 18, 2020
“Oracle is a great company,” said Trump during a speech in Arizona on Tuesday. “I think its owner is a tremendous guy. He’s a tremendous person."
Oracle's leaders have supported Trump’s re-election efforts https://t.co/EQyLSDaTUX
— Bloomberg (@business) August 19, 2020
Oracle joins Microsoft in the race to buy TikTok after President Trump signed an executive order demanding the app’s owner, China-based ByteDance, to sell off or spin out its TikTok business in the U.S. within 90 days.
Oracle might seem like an unlikely candidate given its focus on enterprise software and lack of social media market share, but it’s worth noting that co-founder and executive chairman Larry Ellison is a Trump supporter. The acquisition could also help the company’s advertising and data business, The Guardian noted. Oracle is reportedly working with TikTok’s existing U.S. investors, including General Atlantic and Sequoia Capital.
Exclusive image of Oracle's on-prem Tiktok solution being delivered. pic.twitter.com/q77TjFW16a
— Benedict Evans (@benedictevans) August 18, 2020
According to the FT, Oracle is now considering acquiring TikTok. Consumerization of enterprise IT takes on new meaning.
— Chetan Puttagunta (@chetanp) August 18, 2020