Oracle Corp. won the bidding for the U.S. operations of the video-sharing app TikTok, a person knowledgeable about the matter said, beating out Microsoft Corp. in an offer to salvage a social-media service that has actually been caught in the middle of a geopolitical standoff.
Oracle is set to be revealed as TikTok’s “relied on tech partner” in the U.S., and the deal is most likely not to be structured as a straight-out sale, the individual said.
The next step is for the White Home and the Committee on Foreign Investment in the U.S. to approve the deal, the individual said, including that the individuals think it satisfies the issues around information security that have been formerly raised by the U.S. federal government.
The White House declined to talk about the offer on Sunday.
Microsoft earlier Sunday stated it was alerted previously in the day of the choice by TikTok parent ByteDance Ltd.
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source https://jobsearchtips.net/oracle-wins-bidding-for-tiktok-in-u-s-after-microsoft-proposal-turned-down/
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