The California based tech company, Oracle Corporation, is reportedly in talks with the Chinese owned video app, TikTok, for its US operations acquisition.
In addition to the United States, the company is also considering buying the app’s operations in Canada, Australia, and New Zealand, as per a Financial Times report.
Earlier this month, US President Donald Trump issued two Executive Orders for banning TikTok and WeChat from the US within 45 days since its signing.
On August 14th, The White House released another EO saying that they will force TikTok to sell its US business within 90 days.
The other tech companies who are reportedly in talks with ByteDance, are Microsoft and Twitter, with Microsoft being the stronger and favorite bidder among the two.
A CNA report claims that Oracle joining the race could pose a threat to Microsoft’s initial talks with ByteDance.
However, Microsoft has more edge when it comes to reinventing and scaling TikTok forward after its acquisition, Professor Howard Yu from IMD told CNA via an interview.
Microsoft has been talking with ByteDance since before the first two EOs were signed by Trump.
According to a Reuters report, ByteDance investors value the short-video app’s global business at about $50 billion.
Trump Approves Of Oracle
Trump showed his support on a possible Oracle acquisition of TikTok during a recent speech in Yuma, Arizona.
According to Trump, Oracle “is a great company.”
He also said that its founder, Larry Ellison “is a tremendous guy” and is “certainly somebody that can handle” taking over TikTok.
What Is Oracle And Who Is Its Founder?
The Oracle Corporation, formerly known as Software Development Laboratories, is known for its development of computer software and applications for business and the owner of the Java software.
The company was co-founded by Ellison in 1977, one of America’s richest men and a known supporter of Trump.
In February, Ellison hosted Trump supporters during a Trump campaign fundraising event held in his California estate.