Oracle Is Challenging Microsoft in a Potential Tiktok Takeover

Trump administration supports Microsoft’s Oracle challenge in a potential TikTok takeover. The app is worth $50 billion overall.

Oracle is challenging Microsoft on TikTok (1)
Oracle is challenging Microsoft to buy TikTok. PHOTO via @iStock

Software company Oracle is challenging Microsoft in a potential TikTok takeover. Oracle leaders are in talks with TikTok parent company Byte Dance about getting the app’s business operations in the US and other English – speaking countries. 

  • Trump supports Microsoft’s Oracle challenge on TikTok acquisition.
  • China-owned TikTok has been raising security concerns for months.
  • Microsoft will take over TikTok operations in the United States, Canada, Australia and New Zealand.
  • Byte Dance investors agree that TikTok is worth $50 billion overall.

According to the Trump administration’s deadline , the deal must be completed by September 15.

The possible acquisition of Microsoft

China-owned TikTok has been raising security concerns for months. When the Trump administration announced a ban on the app, Microsoft expressed interest in acquiring the video-sharing app.

Since then, the technology company has worked closely with the White House, shifting ownership to balance user demand with national security. 

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As part of this agreement, Microsoft will take over TikTok operations in the United States , Canada, Australia and New Zealand.

Trump offered his blessing to the company to try to conclude a deal before September 15, when the time crisis made the deal impossible.

Oracle is challenging Microsoft on TikTok

Enter Silicon Fence-based software company Oracle. The company is said to be in early negotiations with Beijing-based TikTok’s parent company, Byte Dance, to compete with Microsoft in a takeover.

Venture capital companies Sequoia Capital and General Atlantic are also part of the deal. The fact that these two groups are already Byte Dance investors makes a great promise for negotiations. 

There are no details yet about the acquisition price, but most Byte Dance investors agree that TikTok is worth $50 billion overall.

Trump’s support

Trump’s history with the co-founder of Oracle may have influenced his response to the potential purchase . Larry Ellison reportedly ran a fundraiser for Trump’s campaign at his home in Rancho Mirage, California. Speaking about the president, Ellison said, “I don’t think he’s a devil. I support him. I want him to be well.”

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This sentiment is mutually exclusive, as President Trump praised Elysine during an event in Yuma, Arizona. “Well, I think Oracle is a great company, and I think its owner is a great guy,” Trump said

“She is OK. I think Oracle will definitely be the one to handle it. Yes. We gave them until September 15th. “

By Lifestyleug.com

www.lifestyleug.com is a publication of Now and Then Entertainment Media in Kampala, Uganda. Lifestyleug is designed to source and publish articles as a mainstream lifestyle media but in the scope of the digital era’s online journalism.

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