BUSINESS Oracle wins deal for Tik-Tok's US operations: CNBC report

BUSINESS

Oracle wins deal for Tik-Tok's US operations: CNBC report

China Daily

11:46, September 14, 2020

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A person holds a smartphone with the TikTok logo displayed in this picture illustration taken in this Nov 7, 2019 file photo. [Photo/Agencies]

ByteDance, the parent company of the video-sharing mobile app Tik-Tok, has chosen Oracle to be Tik-Tok's US technology partner, and Oracle will take a significant stake in the business, CNBC reported on Sunday, citing a person familiar with the discussions.

Microsoft said Sunday in a blog post that ByteDance had chosen not to sell it Tik-Tok's US assets. "ByteDance let us know today they would not be selling Tik-Tok's US operations to Microsoft."

Tik-Tok declined to comment. Oracle representatives did not immediately respond to requests for comment, CNBC said.

The White House had imposed a Sept 20 deadline for ByteDance to announce a plan for a sale of Tik-Tok in the US or be banned by Sept 29, and a deal would have to be done by Nov 12, as per CNBC.


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