Oracle has confirmed a deal with ByteDance, the parent company of short-video sharing app TikTok, to become their “Trusted Technology Provider“.
The news came after Microsoft company made a confirmation of the rejection of their bid for acquiring TikTok’s operations in US. Microsoft has been chasing a deal with TikTok to own their operations in US, Australia, New Zealand and Canada. As ByteDance has clearly refused the complete acquisition of TikTok, Oracle has won bidding with TikTok as their “Trusted Technology Partner”.
Oracle has been rumored to be a part of the bidding to acquire US TikTok. But, the company has been opted to be a “Trusted Technology Partner”. This does not mean to be an outright sale. This appears to be an assumption that Oracle will be helping TikTok with their own cloud operations. It is not clear that what is the actuall status of this partnership. One thing is for sure that it is not taking over the significant operations in TikTok US offices.
Trump, President United States of America, signed an executive order to block all transactions with ByteDance on August 6th. The order was a demand for an american company to purchase TikTok US business.
Microsoft’s deal would have entirely cut TikTok US from Europe and Asia but, Oracle’s deal have left it significantly intact. It has more likely become a babysitter as it is more of a glamorized hosting deal.