TikTok will partner with Oracle in U.S. after Microsoft loses bid

 

Source: Brian Fung & Rob McLean, CNN

TikTok and Oracle will become business partners in the United States—a deal meant to satisfy the Trump administration's national security concerns, according to a person familiar with the matter.

Talk of a sale began as President Donald Trump issued executive orders last month seeking to ban TikTok and requiring that its US operations be spun off from its Beijing-based parent company, ByteDance. The exact nature of the agreement between TikTok and Oracle (ORCL) remains unclear, but it was not described as an outright sale. The news about Oracle came just after Microsoft announced that it will not buy TikTok's US operations from ByteDance.

Read Full Article: TikTok will partner with Oracle in U.S. after Microsoft loses bid

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