Oracle Wins Bidding for TikTok in U.S., after Microsoft Proposal Rejected
September 13 2020 - 7:26PM
Dow Jones News
By Georgia Wells and Aaron Tilley
Oracle Corp. won the bidding for the U.S. operations of the
video-sharing app TikTok, a person familiar with the matter said,
beating out Microsoft Corp. in a deal to salvage a social-media
service that has been caught in the middle of a geopolitical
standoff.
Oracle is set to be announced as TikTok's "trusted tech partner"
in the U.S., and the deal is likely not to be structured as an
outright sale, the person said.
Microsoft earlier Sunday said in a statement that it was
notified earlier in the day of the decision by TikTok parent
ByteDance Ltd.
"We are confident our proposal would have been good for TikTok's
users, while protecting national security interests," the statement
said. "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."
(END) Dow Jones Newswires
September 13, 2020 20:11 ET (00:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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