TikTok owner ByteDance refused to sell its service to Microsoft and struck a deal with Oracle
Techno section editor
TikTok preliminarily struck a deal with Oracle to sell its US operations literally one day before the deadline set by Donald Trump, which expired on September 15. The deal ensures that the popular social media app continues to work for millions of US users. The amount of the deal was not disclosed.
News of the acquisition came shortly after Microsoft announced that it had failed to reach an agreement with TikTok's owners, Chinese company ByteDance. According to Reuters, citing sources, its owner chose Oracle as the buyer of the American segment of TikTok.
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“Under the proposed deal, Oracle will become ByteDance's technology partner and take over the management of TikTok user data in the US,” sources told Reuters.
The battle to find a buyer for TikTok began after President Donald Trump issued a decree in early August 2020 stating that the app would be banned in the U.S. unless ByteDance sold its U.S. assets to any U.S. company by September 15, 2020.
In the original ruling, Trump said TikTok “poses a threat to national security as it collects information about its users, including personal data, network activity such as location, browsing history and search history.”
The US president feared that if the Chinese government gained access to TikTok data, the application could potentially allow that country to “track the whereabouts of federal employees and contractors, create personal information files for blackmail, and conduct corporate espionage.” However, now it remains to wait for the approval of the deal by Donald Trump.
At the same time, China Central Television denies the deal, stating that ByteDance will not sell the American segment of the social networking site TikTok to Microsoft and Oracle.
TikTok is estimated to have around 100 million monthly active users in the US and around 800 million worldwide.
We will remind that earlier the head of TikTok resigned because of the courts with the Trump administration. Also in the summer, the US authorities are calling for the immediate removal of TikTok from their smartphones.
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