Chinese multinational firm ByteDance has chosen Oracle as its technology partner for video-sharing app TikTok in the United States instead...
Chinese multinational firm ByteDance has chosen Oracle as its technology partner for video-sharing app TikTok in the United States instead of selling its assets to Microsoft, Reuters reported on Monday.
Under the new deal, Oracle will also take up the management of user data and negotiate for a stake in the app’s American operations, an unidentified official told the news agency. The official added that ByteDance is hoping to evade a ban in the US while appeasing China.
ByteDance will, however, need permission for the deal from the American and Chinese governments. It is unclear whether US President Donald Trump will approve the deal.
Microsoft had announced on Sunday that ByteDance had rejected its proposal to acquire TikTok. “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” the technology giant said in a blog post.
It added: “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.”
Last week, Trump had refused to extend the September 15 deadline...
