Last month, Microsoft announced its intention to buy TikTok from its parent company ByteDance. It started a series of negotiations and talks that have now led to a decision ̵1; Oracle will probably buy TikTok. No, it was not a spelling mistake.
The Wall Street Journal (WSJ) reports that Oracle will make the announcement soon according to its insider sources. Microsoft only withdrew from the negotiations to buy TikTok only last night, and ByteDance accepts a competing offer from Oracle seems to answer why.
But contrary to Microsoft’s intentions, WSJ says this is not a complete buyout. Instead, Oracle lists Oracle as a “trust tech partner”. We need to see a complete message to understand more of what that means.
President Trump recently threatened to ban TikTok from the United States on the grounds of national security concerns. He kept on while Microsoft entered into talks to buy the company, under the clear promise that a sale would include data and algorithms, and for at least the US scope of TikTok to US shores. It is unclear whether Oracle’s offer meets these requirements.
Even when Oracle makes the announcement, the purchase will not be made immediately. Regulators on the US and Chinese side will take a look and need to approve any deal, “reliable technical partner” or otherwise.
via The Wall Street Journal