Article Hero

Oracle in talks to buy TikTok

1597742925.jpg
Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
The competition intensifies over TikTok

Buying TikTok has been the hot topic of the last couple of weeks. Since President Trump announced the ban of the app and revised his decision shortly after Microsoft said it is in talks to purchase it from ByteDance, other companies set their eyes on TikTok. 

At the beginning of last week, the social media giant, Twitter, spread the word that it has begun negotiating with ByteDance's representatives over TikTok. 

Now, another buyer is in sight, the American technology corporation, Oracle. Financial Times reported that the company is in preliminary talks with ByteDance to buy TikTok's operations in New Zealand, Australia, the US, and Canada. Currently, Oracle is working with various US investors that already have a stake in ByteDance, such as General Atlantic and Sequoia Capital. 

If the deal closes, it could be beneficial to Oracle, as the company doesn't have a social-media type of business segment. The best-case scenario would be for Oracle to use the customer data collected by TikTok to attract more people to use its products. 

Lately, Oracle struggled to find new areas that can bring profit, as the segment of cloud computing segment is dominated by Amazon Web Services, while Microsoft Azure and Google Cloud are completing the triad. 

During today's pre-market session, Oracle stock price gained almost 4%.

Check-out the latest news on CAPEX.com!

Sources: reuters.com, cnbc.com


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

Share this article

How did you find this article?

Awful
Ok
Great
Awesome

Read More

Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.