Oracle Reportedly Wins TikTok Bid
TikTok Oracle Deal is reportedly ‘Shelved Indefinitely’
Sourced from Cosmico Last year, Tik Tok’s parent company ByteDance and Oracle reached a “technical partnership” for the social media platform’s US operations. The deal was expected to address the national security concerns surrounding TikTok, raised by the Trump Administration. But now, it would seem that these efforts have been ‘shelved indefinitely’ while US President Joe Biden “undertakes a broad review of his predecessor’s efforts to address potential security risks from Chinese tech companies”. Spokesperson for the National Security Council, Emily Horne told the Wall Street Journal that “we plan to develop a comprehensive approach to securing US data that addresses the full range of threats we face. This includes the risk posed by Chinese apps and other software that operate in t...
Oracle Reportedly Wins TikTok Bid
Sourced from Cosmico Oracle and ByteDance have reached a “technical partnership” for TikTok’s US operations, according to The Wall Street Journal. This, however, does not include the sale of the popular video-sharing app. A number of people familiar with the matter believe that Oracle will address the national security concerns surrounding TikTok, raised by the Trump Administration. Sources told FT that the US tech company was already in “preliminary talks with TikTok owner Bytedance, and was working with a group of investors that already holds a stake in the Chinese company.” This comes shortly after Microsoft revealed that ByteDance has rejected its bid to acquire TikTok – the acquisition would’ve allowed Microsoft to own and operate the TikTok service in the United States, Can...
