- Oracle has finally confirmed being chosen by Byetdance as TikTok’s technical partner in the United States.
- Bytedance was given 90 days by President Donald Trump to sell the US operations of TikTok to an American Company
- Microsoft was also one of the first tech companies that had expressed its desire to purchase the US arm of TikTok.
Tech giant Oracle has finally confirmed being chosen by Byetdance as TikTok's technical partner in the United States. Bytedance was given 90 days by President Donald Trump to sell the US operations of TikTok to an American Company or face a ban in the country. However, social media was abuzz with reports that Oracle, not Microsoft has been picked for a deal by Bytedance that does not involve the complete sale of the TikTok operations in the United States.
"Oracle confirms Secretary Mnuchin's statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider. Oracle has a 40-year track record providing secure, highly performant technology solutions," Oracle said in a statement.
Microsoft was also one of the first tech companies that had expressed its desire to purchase the US arm of TikTok but their proposal was rejected by Bytedance. "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," Microsoft said in a statement. Walmart had also joined hands with Microsoft in a bid to acquire but that didn't happen.
Earlier, US Treasury Secretary Mnuchin had revealed that the US government had received a proposal from Oracle and Bytedance and will review the deal later this week.
"I will just say from our standpoint, we'll need to make sure that the code is, one, secure, Americans' data is secure, that the phones are secure and we'll be looking to have discussions with Oracle over the next few days with our technical teams," Mnuchin was quoted saying by CNBC.
Trump had given September 15 as the deadline for Bytedance to sell off the US operations of TikTok or face a ban in the country. Trump called TikTok and WeChat a threat to "national security" in its executive order. This had compelled TikTok's CEO to step down after only 100 days of assuming the position.