Oracle allegedly won the deal against Microsoft in buying the Chinese owned video-sharing app, TikTok, reports said on Monday.
According to CNN, Oracle is now ByteDance’s new business partner for TikTok’s US operations.
However, there are no details yet on the new TikTok-Oracle setup.
The deal is meant to assure US President Donald Trump on the application’s security issues, says a CNN source.
Last month, Trump signed an executive order banning the short-video sharing app from the United States due to alleged security issues surrounding it.
In the same month, Trump signed another EO extending ByteDance’s deadline in selling the app to a US company.
ByteDance is the owner of TikTok.
Furthermore, two companies emerged at the forefront of the TikTok bid, Microsoft and Oracle.
What Microsoft Says
Microsoft published its statement on its TikTok bid on its official blog amid reports of Oracle’s TikTok acquisition.
ByteDance notified Microsoft that they will not be selling “TikTok’s US operations to Microsoft,” says Microsoft in a statement.
According to Microsoft, they are confident that their proposal would have been apt in protecting the nation and TikTok users’ security.
The areas that Microsoft made clear in its August statement on buying TikTok are the following:
- Highest security standards
- Online safety
- Battling disinformation
Furthermore, a source from TikTok Japan told the San Diego-Tijuana Times, that Microsoft already gave up its bid for TikTok.
After the news of Oracle buying TikTok broke out, sources close to Beijing claim the opposite.
According to CGTN, a Chinese media, ByteDance will not sell its US TikTok operations and source codes to Oracle, Microsoft, or any other US buyers.
ByteDance may have to obtain a certification from the Chinese government before selling its TikTok US operations, per an updated catalog of Chinese technologies that can be exported from China, said CGTN.
Moreover, China would rather shutdown TikTok in the United States than sell its US operations, said sources with direct knowledge on the matter, RTHK, a Hong Kong-based news site reported.