Oracle Wins Bid for TikTok - Microsoft Rebuffed
Monday, September 14, 2020
Oracle won the bidding for the U.S. operations of the video-sharing app TikTok, according to a report in the Wall Street Journal. Oracle beat out Microsoft.
The Trump administration had forced the sale due to concerns about China using the app to collect American data. The app has been banned in India.
Oracle is set to be announced as TikTok’s “trusted tech partner” in the U.S., and the deal is likely not to be structured as an outright sale, the person with first-hand knowledge according to the WSJ..
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLAST"The next step is for the White House and the Committee on Foreign Investment in the U.S. to approve the deal, the person said, adding that the participants believe it satisfies the concerns around data security that have been previously raised by the U.S. government," reports WSJ.
The White House declined to comment on the deal on Sunday. President Donald Trump is giving a speech at a campaign event on Sunday evening in Nevada.
Microsoft earlier Sunday said it was notified earlier in the day of the decision by TikTok parent ByteDance Ltd.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” the company said in a statement. “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.”
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