Oracle Defeats Microsoft, Bags TikTok US Deal

MK Digital Line
The Chinese owner of TikTok has chosen Oracle to be the app’s technology partner for its U.S. operations and has rejected an acquisition offer from Microsoft.

The deal has to be signed off as time runs out on an executive order from President Trump threatening to ban the popular app unless its American operations are sold.

Microsoft announced on Sunday that its bid for TikTok was rejected, removing the tech giant from the race to take over TikTok U.S. operations.

After being banned in India, ByteDance is seeking for the same procedure, to sell some stakes for India's operations.

Rumour has it that Mukesh Ambani's Reliance Jio was pitching for the stakes, but there are no official statements in this regard yet.

Post a Comment

Previous Post Next Post