After weeks of speculation about which US-based company would win a bid to acquire TikTok’s US operations, we now know that it’s not Microsoft.
Citing people familiar with the matter, The Wall Street Journal reported today (September 14) that Oracle has ‘won the bidding’ for the app’s US operations.
It was first reported by the Financial Times on August 18 that Oracle was in talks with ByteDance.
The WSJ’s sources stated that Oracle is set to be revealed as TikTok’s “trusted tech partner” in the United States and that the deal is partnership rather than a sale.
US retail giant Walmart, which announced on August 27 that it was teaming with Microsoft to try strike a deal to buy TikTok’s US operations, said yesterday that it “continues to have an interest in a TikTok investment and continues discussions with ByteDance leadership and other interested parties”.
“We know that any approved deal must satisfy all regulatory and national security concerns,” added Walmart’s statement.
It was first first reported at the end of July that Microsoft was exploring a possible acquisition of TikTok, and confirmed on on August 2 that it was in talks with the app’s China-based owner ByteDance.
TikTok has been under growing political pressure in the US due to national security concerns over its Beijing-based parent.
An executive order was signed by US President Donald Trump on August 6 that would see TikTok banned from the US within 45 days.
Trump later issued a second executive order giving the company 90 days to sell its US operations.
“We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”
Stated Microsoft: “We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.
“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.”Music Business Worldwide