Oracle proposes TikTok partnership in US

Sep 15, 2020

Business
Oracle proposes TikTok partnership in US

Washington DC (USA), September 15: US software giant Oracle says it is in talks with the Chinese firm ByteDance to partner on the US operations of the popular video-sharing app TikTok.
Oracle said on Monday that it has submitted a proposal to the Treasury Department.
The two firms appear to have agreed that Oracle would serve as technical partner to protect TikTok users' private information, instead of making an outright acquisition.
Treasury Secretary Steven Mnuchin told reporters his department will review the proposal this week, and President Donald Trump will be notified soon afterward.
Microsoft previously made an outright buyout attempt, but the two companies failed to reach a deal.
Trump has ordered ByteDance to sell TikTok's operations in the US, citing national security risks. He says the Chinese government could abuse users' data.
Even if Oracle and ByteDance strike a deal, it's unclear whether both Washington and Beijing would approve it.
Source: NHK World