NVIDIA Confirms it Bought Softbank's ARM and use its technology to Challenge Intel's Dominance in the Data Center Market
While Apple is set to introduce Major Apple Watch and iPad Updates Tomorrow, Samsung announces a Smartphone event for next week

TikTok has chosen Oracle's Deal in the hopes of avoiding an all-out Sale which Could be Blocked by the Trump Administration

1 X FINAL - COVER - ORACLE - TIKTOK

 

In mid-August Patently Apple posted a report titled "Oracle is the latest Tech Giant Rumored to be in talks to acquire TikTok U.S.A." Our report noted that Oracle was in talks to acquire the social media company TikTok along  with its Canadian, Australian and New Zealand assets.

 

Oracle has reportedly won a deal to manage TikTok’s US cloud operations. Oracle had been rumored to be part of the bidding process to acquire TikTok, but The Wall Street Journal reports that Oracle has been selected as a "trusted tech partner" instead. This is different from an outright sale, and appears to suggest Oracle will be helping run TikTok’s US operations with its own cloud technologies.

 

News of an Oracle deal comes just an hour after Microsoft revealed it was no longer acquiring TikTok after its bid was rejected by TikTok owner ByteDance. Microsoft had been pursuing a deal to buy TikTok’s operations in the US, Australia, Canada, and New Zealand. It’s clear talks have swayed away from a full acquisition, with Oracle reportedly winning the bid to be a technology partner instead.

 

One person familiar with the deliberations in the White House said it’s unclear whether a deal with Oracle will pass muster with the Trump administration, where various factions have been pushing for a complete shutdown or an outright sale of TikTok to an American company.

 

TikTok is trying to avoid a full acquisition in the hopes that the Democrats will win the election and allow Biden to give the Chinese company what they want to appease China.  However, Trump's deadline is set to ensure that TikTok is either sold or killed in September with no hope of stretching it out until after the election. TikTok's attempt to get around Trumps ultimatum will only anger the administration, leading to a complete shutdown when the deadline passes. By rejecting the Microsoft deal, it's clear that TikTok has no interest in selling their company to a U.S. company. Whether that's an order handed down by China directly is unknown at this time. 

 

Sources: Bloomberg, The Verge.

 

10.0F3 - Patently Extra News

Comments

The comments to this entry are closed.