A new deal has been made between TikTok and Oracle wherein US operations will be taken over by Oracle. This landmark deal will reinvent how U.S and China will interact further. Oracle has a track record of joining forces with the U.S Government making this partnership a very clever move in the unpredictable times.
Oracle was a part of the parties biding on acquiring TikTok U.S. operations as well as Australia, New Zealand, Canada. The News of Oracle getting a deal was released just after Microsoft announced that its proposal has been rejected by ByteDance. So Microsoft will no longer be acquiring TikTok. Oracle is a database software operation. It is being rumoured that Oracle has become the Tech Partner of TikTok U.S operations. That means that TikTok will run with Oracles Cloud technology.
All About The Deal
But the rumor has not been confirmed. We only know that Oracle has won the bid. TikTok U.S operations was sold because Trump administration deemed TikTok a threat to national security. On July 31 President Trump had announced he planned to end the social media platform.
And on August 6th the Trump government released an Executive order ordering ByteDance to sell TikTok within 90 days. The executive order also stated that the company taking over TikTok U.S operations should be American. Trump had claimed that te platform was a threat to national security and it steals data. TikTok denied any such accusations and sued Trump government at the end of August.
ByteDance and Oracle have signed the deal but they will still face difficulties in executing the deal. They will firstly will have to get approvals from U.S committee for foreign investments. Though both parties believe that their deal will satisfy any concerns regarding National security. There is still a possibility that Beijing Government and U.S government may sign another deal which will be politically beneficial.
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