Software firm Oracle in talks to buy TikTok and challenge Microsoft bid

Tech group becomes latest to enter the race to acquire the Chinese social media app

Curated via Twitter from Guardian Tech’s twitter account….

But Oracle has reportedly met with ByteDance, TikTok’s Chinese parent company, and is working with some of the app’s investors – including venture capital firms General Atlantic and Sequoia Capital – on a rival deal for its operations in the US, Canada, New Zealand and Australia.

The multinational software company Oracle is in talks that could see it gatecrash Microsoft’s bid for part of the popular Chinese-owned video app TikTok, whose US operations have been valued at more than $20bn.

Microsoft has been working on a partial takeover of TikTok, which lets users post short video clips, after President Trump ordered the firm to sell its US operations within 90 days or face being shut down, citing concerns over national security.

On Monday, the company launched a new “information hub” and Twitter account to “correct the record” and respond more quickly to allegations of censorship, surveillance and state control. “With rumours and misinformation about TikTok proliferating in Washington and in the media, let us set the record straight,” the company said. “TikTok is not available in China.

The biggest link between TikTok and Oracle could lie in the company’s data-as-a-service business, which offers advertisers and data brokers access to user profiles through acquisitions including BlueKai, Datalogix and Grapeshot.

Both Oracle and Microsoft’s bids are not for TikTok’s worldwide businesses, but for subsections of the company’s operations in English-speaking countries.

Both Oracle and Microsoft’s bids are not for TikTok’s worldwide businesses, but for subsections of the company’s operations in English-speaking countries.

TikTok went on to provide links to supportive comments from “industry experts” in cybersecurity, media and academia. © 2020 Guardian News & Media Limited or its affiliated companies. All rights reserved.

Although the reasons for the limited sale have not been disclosed, the four nations represent all the members of the “five eyes” surveillance alliance other than the UK, where TikTok is attempting to place its international headquarters.

Sequoia and General Atlantic attempted to buy a majority stake in TikTok last month, in the belief that doing so would save the company from a forced divestment.

Link to original article….

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