Oracle Wins Bid to Partner with TikTok in the US
Oracle has won the bid to partner with TikTok in the US. Competing bidder Microsoft was turned down by TikTok owner ByteDance.
The news comes as the deadline for TikTok to sell US operations loomed. Trump signed executive orders on Aug. 7th requiring TikTok to sell its' US operations in 45 days or risk being banned from operating in the US.
The reason for the executive order stems from concerns that the Chinese app poses a national security threat.
The deal must now be approved by the White House and the Committee on Foreign Investment.
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