Oracle to Battle Microsoft in TikTok Purchase
Rumour has it Oracle is now competing with Microsoft for the purchase of TikTok’s US, Canadian, Australian and New Zealand assets. The talks are fast ongoing, but is it possible that while Microsoft is fighting on the acquisition with the US government anyone else would have a shot?
Apparently so. Sources report that Oracle is working with a group of US venture capitalist firms that already have a stake in TikTok, while Oracle’s co-founder and executive chairman - Larry Ellison, has expressed his support for Donald Trump’s views on ByteDance threatening the national security of the United States, and was known to throw a campaign fundraising event for the US president earlier this year.
To be fair, Oracle doesn't have a social media or video business, so the acquisition of TikTok would be a step into an entirely unfamiliar territory for the software giant. The company had struggled to find new growth opportunities for a while as Amazon Web Services, Microsoft Azure and Google Cloud came to dominate cloud computing, and its fiscal Q4 revenue saw a 6% drop. A deal this large could, perhaps, be an innovative solution for Oracle’s wellbeing.
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