Redwood Shores’ Oracle beats Microsoft in deal for TikTok's US operation

by   |  VIEW 1209

Redwood Shores’ Oracle beats Microsoft in deal for TikTok's US operation

On Monday, Oracle Corp., the Redwood Shores, California-headquartered American multination software company primarily focused on selling database software, cloud engineering system and enterprise software products, had issued a statement saying that the Chinese small video-sharing app TikTok owner ByteDance, had agreed to a divestment of its TikTok’s US assets, while the Chinese conglomerate holding had chosen Oracle instead Microsoft Corp.

for a sell-off of its TikTok’s US operations, suggesting a deal which in effect could keep the popular small video sharing app afloat in the United States. Aside from that, latest remark from Oracle Corp. followed an earlier statement from the US Treasury’s Mnuchin who was quoted saying earlier in the day in a CNBC interview that China’s ByteDance had submitted a divestment proposal for its TikTok’s US operation for Government approval, while reaffirming the remarks of US Treasury Chief, an Oracle spokeswoman Deborah Hellinger had confirmed the statement made by the US Treasury Department.

ByteDance picks Microsoft Corp. to divest its TikTok’s US assets

In factuality, latest move from ByteDance followed a weekend Chinese media headline that said the pro-CCP Chinese Government of President Xi Zinping would rather shutter down the ByteDance’s TikTok operations in the United States instead of an acquisition, eventually leading to a garrulous debate on whether the Chinese conglomerate holding would be able to divest its TikTok’s US assets within a September 20 deadline set by the US President Donald Trump last month.

Nonetheless, as the US President Donald Trump had expressed a sheer optimism over the Oracle takeover of TikTok’s US operation, which claimed to have roughly 22 million users in the United States late on the day, addressing to a TikTok commitment to make the United States its new home venue which in effect would create job opportunities for as many as 20,000 Americans, Mnuchin said followed by the Oracle announcement, “We did get a proposal over the weekend that includes Oracle as the trusted technology partner with Oracle making many representations for national security issues,” however the deal would likely to lead to a garrulous debate.