ByteDance drops TikTok’s U.S. sale, to partner with Oracle: sources

by birtanpublished on September 16, 2020

Oracle has beat out rival bitter microsoft to take over the u.s operations of tick tock the popular video app that's according to sources familiar with the matter who said sunday the deal won't be a sale

But rather a restructuring in the hopes of avoiding a ban in the u.s while also appeasing the government of china tik tok has found itself in the middle of a political standoff between beijing and washington

Bite dance tick tock's chinese parent company had been in talks to divest the app's u.s business to oracle or microsoft after president donald trump threatened last month

To shut down the app in the u.s if it wasn't sold off oracle's chairman larry ellison is one of the president's few supporters in the tech world negotiations were upended late last

Month when china changed its rules for exporting tech that gave it a say over the transfer of tick-tock's algorithm to a foreign buyer reuters reported last week that the chinese government would rather shut

Tick-tock down in the united states than let it be part of a forced sale under the deal oracle would be bite dance's technology partner and would handle tick-tock's u.s user data

The sources added that oracle is also negotiating a stake in tick-tock's u.s assets but they did not disclose how much of those assets bite dance and its investors would keep

Bi-dance will now need both the u.s and chinese governments to approve the proposed deal it remains unclear whether trump who wanted a u.s technology company to own most of tick tock in the

United states will give it the green light microsoft said earlier on sunday bike dance had informed them that they would not be getting the tick tock deal bite dance and oracle did not

Immediately respond to requests for comment and the white house declined to comment

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