Oracle has shown interests in buying TikTok owner ByteDance’s operations in North America, Australia and New Zealand, Financial Times reported.
The move would represent a strategic departure for Oracle, which caters mostly to corporate customers and generates the bulk of its sales from cloud offerings and software licensing, Reuters reported.
CNBC reported that Oracle’s bid for Chinese-owned social media app TikTok might not be as odd as it first seems. There are a number of reasons why the deal could make sense for both parties. Oracle is competing with Microsoft to buy TikTok’s U.S. business.
Oracle has joined some of the investors of TikTok’s Chinese owner in pursuing the bid for the video app. Microsoft is also in the race for buying TikTok.
Oracle is working with some of ByteDance’s investors, including General Atlantic and Sequoia Capital, on making an offer for the TikTok assets that would challenge a rival bid from Microsoft.
Twitter has also approached ByteDance to express interest in acquiring the U.S. operations of TikTok.
Donald Trump has also issued an order that would prohibit transactions with Tencent’s WeChat.
Oracle co-founder and chairman Larry Ellison is one of the few top technology executive to openly support President Donald Trump, who has ordered ByteDance to divest TikTok amid concerns over the safety of the personal data of U.S. consumers.