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Aware: September 14, 2020 08:02
Updated 10:00
September 13, 2020, Asuncion, Paraguay: Illustration photo: Oracle logo is displayed on the screen of a smartphone with the TikTok logo as a backdrop. (Credit Image: © Andre M. Chang / ZUMA Wire)
Added: Microsoft has stated that ByteDance has rejected their offer.
Oracle Corp. has won the competition for the TikTok business in the United States, according to The Wall Street Journal, according to well-informed sources.
After beating Microsoft in the competition, Oracle should be heralded as the “trusted technology partner” of the video-sharing social network TikTok in the United States. However, it is likely that the final transaction will not be implemented as a direct sale but as a restructuring.
Reuters reports that Chinese company ByteDance, which controls TikTok, hopes to circumvent the US ban on the use of TikTok by individuals and companies in association with Oracle. Oracle, as ByteDance’s technology partner, would process TikTok user data in the United States.
Microsoft said ByteDance had rejected its offer to acquire TikTok’s operations in the United States. This opened the way for Oracle to make a last minute offer, the BBC reports.
“We are convinced that our offer would have been good for TikTok users, while protecting national security interests,” the company said in a statement.
VŽ wrote that the social network has caused inconvenience to the US administration, due to the threats posed by the network to the security of national and personal data. In mid-August, President Donald Trump ordered ByteDance to sell its TikTok business in the United States. Previously it was announced that Microsoft was looking to acquire it, and the social network Twitter was also interested in this opportunity.
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