ORACLE Corp beat out Microsoft in bidding to acquire the U.S. operations of TikTok.
Oracle became the final remaining bidder after the Chinese-owned video sharing app rejected Microsoft’s offer, Microsoft said.
The Chinese-owned video-sharing app has come under scrutiny during a geopolitical standoff between China and the US[/caption]
The technology giants were competing to become a “technology partner” with ByteDance, TikTok’s parent company, as the clock began to run out on an executive order from President Donald Trump threatening to ban the app until its American operations were sold.
A source familiar with the deal told The Wall Street Journal that it may not be structured as an outright sale.
Microsoft, however, said that if it had been chosen it would have “made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation.”