Oracle has reportedly landed a deal with ByteDance over the app TikTok. Microsoft was also in the running for the app but their bid was declined by the Chinese internet technology company.
Microsoft released a statement saying that they did not win the bid. “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.”
The tech giant, Oracle, outbid Microsoft after it was reported that TikTok would announce Oracle as their “trusted tech partner.” It is reported that their agreement is “not to be structured as an outright sale” but a way to avoid further conflict with Donald Trump.
Trump had threatened to shut TikTok down in the United States if it was not being run by a U.S. company by September 20th. He believed that TikTok “continued to threaten the national security, foreign policy; and economy of the United States.” TikTok’s investors were pushing for the app to be sold to Oracle because their CEO, Larry Ellison, is a known Trump supporter. In response to Oracle’s acquisition of TikTok, Trump called Oracle a “great company” that “could handle” TikTok.
