Oracle has reportedly agreed to acquire TikTok’s US operation that does not include a full sale of the popular video app from its China-based parent ByteDance, weeks after President Donald Trump issued an executive order that threatened to ban the app unless it was sold to an American company.
Microsoft has said that ByteDance had rejected its bid to acquire TikTok’s US operations, leaving Oracle as the only remaining suitor, as September 20 deadline looms for the Chinese firm to sell or shut down its US operations. TikTok owner ByteDance told the US tech giant it wouldn’t be selling to the company, Microsoft announced in a Sunday blog post.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests,” the company mentioned in a statement. “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.”