Software giant Oracle is in talks to acquire the assets of the social media company TikTok in United States, Canada, Australia and New Zealandas reported by CNBC, which quotes a person familiar with the matter.
Oracle is working with a group of US venture capital firms that already have a stake in TikTok, said the person. Financial Times adds that General Atlantic and Sequoia Capital They are two of the investors who work with Oracle.
Spokesmen for TikTok and Oracle have not commented on the matter.
Oracle's talks to acquire TikTok assets in four countries are ongoing and have accelerated in recent days, added the source, and both she and Microsoft They are way ahead of any other company that has expressed interest. While Microsoft has been working with the US government for more than a month to acquire the assets of TikTok, Oracle's co-founder and CEO, Larry Ellison, has expressed his support for President Donald Trump, whose administration has promised to ban TikTok in the United States if Chinese owner ByteDance does not divest its operations there by November. Ellison hosted a campaign event to raise money for Trump earlier this year.
"There is credible evidence that leads me to believe that ByteDance … could take action that threatens to harm the national security of the United States," Trump said in an executive order last week.