Oracle plans to take ownership of newly formed Ticket OK Corporation as part of a recently announced deal Financial Times Reports. The new arrangement will not shut down TikTalk on a regional basis, but will create a separate corporate entity for the application, in which Oracle will have a minority stake. Oracle will ensure that data on American users is stored and processed in the United States, in accordance with the recommendations of the Committee on Foreign Investment in the United States (CFIUS).
Ticket ance Kanu was already headquartered in California, with negligible independence from Bitdance’s China operation. The major change made by the deal is Oracle’s minority stake in the company, the size of which is still unclear. But while Oracle’s stake makes ticket ok a more legally separate corporation, it’s still likely that the resulting company will rely on algorithms and applications developed and deployed from China.
Ticket ok that is committed to increasing recruitment in the U.S., and CNBC. In an interview with, Treasury Secretary Steve Munuchi described the deal as part of a broader effort to establish Ticket OK as a “US-headquartered company.”
It is also unclear whether the new agreement will result in changes to how ticketing will work, or whether the proposed ban will address the first induced security concerns in a meaningful way. Former Facebook security chief Alex Stamos put it on Twitter, “A deal on significant hosting without a deal code and significant operational changes will not allay legitimate concerns about ticketing.”
Announced on Sunday, the Oracle deal is part of a last-minute effort to ban the app in the United States, as threatened by President Trump. The president has yet to formally approve the deal, and accordingly Financial Times, Crucial details are yet to be determined.
The system has also been criticized by Trump’s fellow Republicans for limiting national security. In an open letter on Monday, Sen. Josh Haley Wali (R-MO) urged Manuchin to oppose the deal.
“The ongoing ‘partnership’ that allows for anything other than the complete release of Ticket OK software software from the control of the potential Chinese Communist Party is completely unacceptable,” Howell wrote, “and is clearly inconsistent with the President’s executive order.”
