Microsoft Loses Bid, Oracle Set to Partner With Tiktok in US
Notably, TikTok business sales talk in the US has hit the roadblock after China's update of the technology export rules. The update covers Artificial Intelligence (AI) technologies used by ByteDance, the Chinese firm that owns TikTok.
New Delhi: TikTok’s Chinese parent company ByteDance – has rejected an acquisition offer from Microsoft and has chosen Oracle as app’s technology partner for its US operations. Also Read - From TikTok to PUBG, India Has Banned 224 Chinese Apps Till Now in Three Months | All You Need to Know
Microsoft’s offer In a statement, the US tech giant said,”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.” Also Read - 'Zindagi Barbaad Ho Gaya': Shocked Gamers React to the PUBG Ban With Hilarious Memes
On August 6, Trump signed an executive order banning any US transactions with ByteDance, set to take effect in 45 days. On August 14, the US President issued another executive order, requiring ByteDance to divest its interests in TikTok’s operations in the US within 90 days. Also Read - Walmart, Microsoft Join Hands in Pursuit to Acquire TikTok in US
On September 10, US President Donald Trump said, “There will be no extension of the TikTok deadline…We will either close up TikTok in this country for security reasons or it will be sold. … We will see what happens.”
US Secretary of State Mike Pompeo has claimed TikTok and other applications like WeChat are feeding data directly to China’s national security apparatus.
Notably, TikTok business sales talk in the US has hit the roadblock after China’s update of the technology export rules. The update covers Artificial Intelligence (AI) technologies used by ByteDance, the Chinese firm that owns TikTok.
(With agency inputs)
For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest World News on India.com.
Comments - Join the Discussion