Oracle Gets Trump's Green Light For TikTok Acquisition

JAKARTA - Technology company Oracle Corp has expressed its intention to acquire the TikTok business in the United States (US). The plan has also received the green light from President Donald Trump.

This was conveyed by Trump in response to Oracle's plan to take over ByteDance's short video platform. "I think Oracle is a great company," said President Trump as quoted by Reuters, Wednesday, August 19.

In his report, the company owned by billionaire Larry Ellison is eyeing TikTok's businesses and operations in North America, Australia and New Zealand. The same thing Microsoft wants when it acquires TikTok.

In fact, Oracle is not alone in acquiring TikTok. Together with other ByteDance investors such as General Atlantic and Sequoia Capital, they are currently making offers for TikTok assets

So far, President Trump has given TikTok a deadline of up to 90 days to sell part or all of its business to a US company. Otherwise, the short video platform will be permanently blocked in the US.

On the other hand, Microsoft doesn't just want to buy TikTok's US line of business. The technology company plans to take over the global operations of the Chinese-made social media platform.

It is not yet known the value of the deal that Microsoft has agreed to buy TikTok assets. However, it is estimated that the total value of TikTok's US business is more than US $ 50 billion.