Oracle, which sells business software and sponsors the US America’s Cup team, has held talks about the Chinese video-sharing app, which is popular among teenagersThe computing software giant Oracle has entered the race to acquire TikTok as American tech companies fight to gain hold of the hugely successful app before it is banned. TikTok is a Chinese-owned video-sharing app that President Trump has said he will ban from the United States due to national security concerns unless it is acquired by an American company. Oracle, co-founded by the billionaire Larry Ellison, has held preliminary talks with TikTok’s owner, Bytedance, over buying the operations in the US, Canada, Australia and New Zealand. The talks, first revealed by the Financial Times, create a significant rival for Microsoft, which revealed that it was in talks with Bytedance at the start of August for the same services. It has since been reported

Source: The Times August 18, 2020 23:03 UTC