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Oracle joins race to acquire TikTok: Report

Oracle is the latest company to join the race to acquire TikTok, even as Microsoft has made its intentions of acquiring the popular short video app public, Financial Times reported. Oracle is said to be in preliminary talks with TikTok parent, Bytedance, and is reportedly considering acquiring TikTok’s operations in US, Canada, Australia and New Zealand, just like Microsoft. The company is working with a group of US investors that already have a stake in Bytedance, including General Atlantic, and Sequoia Capital, the report said. We have reached out to TikTok for more details. The development comes just days after US President Donald Trump signed an executive order directing Bytedance to divest from its American assets and its rights to any user data that TikTok gathered in the country, within 90 days. The executive order also prohibits Bytedance from selling…

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