Oracle has today confirmed it has struck a deal with ByteDance, the Chinese owner of the video-sharing app TikTok, weeks after the Trump administration ordered a TikTok divestiture in the United States. The deal still needs US. government approval.
Microsoft’s bid was rejected, and they announced yesterday that they had withdrawn from the process.
The full details of the agreement between TikTok and Oracle is still unknown at this stage.
A statement issued by Oracle says :-
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.