Oracle Corp. to partner with TikTok in the United States after ByteDance Ltd. rejected Microsoft Corp.’s bid. This deal comes after the Trump administration pressured the Chinese video-sharing app “TikTok” to sell its U.S. business over national security concerns.
Oracle Corp. was reported to successfully reach an agreement with China’s ByteDance Ltd. as its “technology partner” in the U.S. late Sunday.
According to the Washington Post, reporting that TikTok recently put forward a proposal to the U.S. government that would allow its parent company, ByteDance, to maintain ownership but outsource cloud management of the data.
TikTok could face a ban if the company does not sell its U.S. operation by a September 20 deadline.
The exact detail of the deal between TikTok and Oracle Corp. is yet unclear, but it was not described as an outright sale. The report came shortly after Microsoft announced that its bid for TikTok had been turned down.