Just after Microsoft announced that it’s not acquiring the controversial Chinese short video app TikTok’s US operations as it was rejected by the owner company ByteDance, US-based computer software company Oracle has reportedly won the bid for the sale and is said to be announced as TikTok’s ‘’trusted tech partner’’ in the United States.
At the beginning of August, Donald Trump gave TikTok 45 days to be acquired by a US company or to stop its operations in the United States. He also banned the US transactions with the owner ByteDance and WeChat owner Tencent.
After a short while, Microsoft announced its plans to acquire TikTok and its worth jumped up $77 billion following the announcement.
However, the talks didn’t yield any fruit and Microsoft just confirmed that it’s not the acquiring TikTok as ByteDance rejected its offer.
‘’ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft.’’ said the company in a statement. ‘’ 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.’’
According to the Wall Street Journal, Oracle has won the bidding for the US operations of TikTok, as ByteDance rejected Microsoft.
Some sources familiar with the matter said that Oracle is set to be announced as TikTok’s “trusted tech partner” in the United States and it is probably not going to be like an outright sale but Oracle will help TikTok run its US operations with its own cloud technologies, and the deal will face a White House Review.
By the way, it’s worth mentioning that there is only 1 day left for the 45 days limit given to TikTok and Donald Trump said last week that he wouldn’t extend the deadline.