Microsoft said it didn’t get TikTok after ByteDance turned down the offer. Finally, Microsoft failed to take over TikTok from ByteDance.
Microsoft initially confirmed last month that it was pursuing a deal to buy TikTok’s operations in the US, Australia, Canada and New Zealand. Reports also suggest Microsoft may consider buying up all of TikTok’s global operations, with the Financial Times suggesting talks around this particular deal are at an “early stage”.
Microsoft Failed To Take Over TikTok From ByteDance
“ByteDance informed us today that they will not sell their US TikTok operations to Microsoft,” Microsoft said in a statement. “We believe our proposal will be good for TikTok users, as well as protect national security interests. To do this, we will make significant changes to ensure the service meets the highest standards for security, privacy, online security and combats disinformation, and we explain these principles in our August statement. We look forward to seeing how services develop in this important area. ”
A failed bid from Microsoft left the door open for Oracle as a potential buyer. Reports last month indicated that Oracle was in the process of acquiring TikTok, and earlier today Axios reported that corporate software giant Larry Ellison had jumped Microsoft for the deal.
However, every possible deal with Oracle is not without complex problems. President Trump initially threatened a September 15 deadline for TikTok sales, before setting November 12 as the deadline, threatening a potential ban. That led to TikTok suing the Trump administration over alleged lack of due process, and the potential for China to block the deal or allow it to be sold without its main algorithm.
It’s unclear exactly what will happen to TikTok in the US now that Microsoft hasn’t been successful in its offering. Oracle looks like the most likely candidate, and probably functions as a cloud service provider rather than a holding company with direct control. There’s nothing simple with this ongoing TikTok saga, so it’s reasonable to expect more twists and turns in the coming days and weeks.
Microsoft failed to take over TikTok from ByteDance. This is clearly going to benefit Oracle. Will Oracle succeed in acquiring TikTok? We wait for the continuation.