The Financial Times newspaper reported on Monday that Oracle Corp had tentative negotiations with
TikTok’s parent company, ByteDance, and was strongly considering purchasing the app’s operations
in the United States, Canada, Australia and New Zealand, quoting people briefed on the matter.
Reuters reported earlier this month that Twitter Inc had approached ByteDance to express interest in acquiring the U.S. operations of TikTok, while Microsoft Corp was still the favorite to clinch a deal in the race.
Oracle didn’t immediately respond and ByteDance declined to comment when contacted by Bloomberg.
Oracle co-founder Ellison is one of the few Silicon Valley moguls to openly support Trump. The billionaire, whose company was once among the industry’s most aggressively acquisitive, has hosted a fundraiser at his estate for the U.S. President. Oracle — the world’s second-largest software maker — is focused on supplying to business customers and has virtually no investments in consumer apps or social media.
Valued at about $166 billion, as of the end of May, Oracle held about $43 billion in cash or near-equivalents, making it one of the few companies that could potentially afford the lofty TikTok pricetag.