Reports have emerged that Oracle has won a deal to manage TikTok’s US cloud operations. The company has been selected as a ‘trusted tech partner’ to complete the deal according to The Wall Street Journal.
The deal implies Oracle will be helping to run TikTok’s US operations with its own cloud technologies. This is instead of an outright sale like Microsoft’s proposition. Former favourites, Microsoft, had earlier announced that it could not reach a deal with Byte Dance to acquire TikTok.
“ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas,” Microsoft said in a statement.
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Microsoft in its bid, was trying to outrightly buy TikTok’s operations in the US, Australia, Canada, and New Zealand. However, Oracle is reportedly winning the bid, working as a technology partner instead.
President Donald Trump had banned TikTok unless a US company takes it over before 15th September 2020, citing national security concerns. Microsoft had believed that it could complete a deal for the company before the deadline, however another executive order giving TikTok more time had pushed the deadline further to 2nd November 2020, giving TikTok and ByteDance more time.
The executive order stemmed from an investigation into TikTok by the Committee on Foreign Investment in the US (CFIUS), which oversees foreign acquisitions of US companies for any potential security risks.
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