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Oracle-TikTok Deal: 11 Things for ORCL Stock Investors to Know

Oracle (NYSE:ORCL) is moving forward with plans to buy Chinese social media app TikTok.

The Oracle (ORCL) sign hangs on an Oracle office in Deerfield, Illinois.
Source: Jonathan Weiss / Shutterstock.com

Here’s what investors need to know about the Oracle deal to acquire TikTok.

  • News of the deal spread on Monday after it was mentioned by U.S. Department of the Treasury Secretary Steven Mnuchin.
  • Oracle also released a statement after this confirming that it plans to acquire the company.
  • Financial details of the deal, such as how much Oracle will spend to acquire TikTok, are still unknown.
  • However, we do know that the deal still needs government approval before it can reach a close.
  • Mnuchin confirmed that the government will look at the deal over the next few days to confirm that Oracle is taking the right steps.
  • Oracle stands to benefit from the deal in a couple of ways.
  • That includes spreading its brand to a younger audience and gaining loads of ad data from users.
  • The sale of TikTok comes after President Trump revealed plans to ban the app if it wasn’t moved over from a Chinese company.
  • With the current plans underway, it looks like TikTok will be sticking around despite the attempt to ban it.
  • The fact that Oracle us buying TikTok means that other companies looking to acquire it failed.
  • That includes Microsoft (NASDAQ:MSFT) and Twitter (NYSE:TWTR), both of which were said to be interested in acquiring TikTok.

ORCL stock was up 5.1% as of Monday afternoon.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/09/oracle-tiktok-deal-details/.

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