Oracle Wins Bid To Manage US TikTok Operations
by Kiruti ItimuOracle has emerged as the surprise winner to buy Tiktok operations in US. Oraclle was among the many tech companies that were interested to buy TikTok’s operations in the US.
According to WSJ, the company has been selected as a “trusted tech partner” and the agreement is quite interesting.
The sale suggests Oracle will be helping run TikTok’s US operations with its own cloud technologies. TikTok had put forward a proposal to the US government which allows them to retain ownership but outsource cloud managemnt of the data.
Another element of the proposal is that ByteDance (TikTok’s owner) could move its headquarters outside of China to alleviate concerns that the company would be subject to Chinese laws.
The news of the Oracle deal comes after Microsoft revealed it was no longer acquiring TikTok after its bid was rejected. Microsoft was one fo the companies pursuing a deal to buy TikTok’s operations.
This is the latest pice of the TikTok’s saga in the US that started with the executive orders issued by Trump. Trump claimed that the popular Chinese app was a threat to national security and issued an order to ban it within 45 days. Moments later, companies like Microsoft and Oracle came forward to buy their operations in the US. This deal was too hot to the point where TikTok US CEO, Kevin Mayer resigned towards the end of last month.