According to the report by wall Street journal, Oracle reportedly won a deal to manage TikTok’s US cloud operations. The company has been selected as a “trusted tech partner” instead, This is different from an outright sale. Now Oracle will help TikTok to run us operations with its own cloud storage.
Oracle Corporation is an American multinational computer technology corporation headquartered in Redwood Shores, California. The company sells database software and technology, cloud engineered systems, and enterprise software products—particularly its own brands of database management systems. source: Wikipedia
This is surprising for me because The tech gaint Microsoft has almost confirmed to be acquiring TikTok but it turned out to be a failure.
- Microsoft confirms in acquiring short video sharing platform TikTok in the U.S and in some other countries
- TikTok acquisition will strengthen Microsoft power
- U.S firms competing themselves to acquire TikTok
- Kevin Mayer steps down as a TikTok CEO
Microsoft statement on Tiktok deal
ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft,” says Microsoft in a statement. “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement. We look forward to seeing how the service evolves in these important areas.”
So by now, Oracle will help TikTok to continue U.S operations instead of completely buying TikTok. We should know the full details soon.