Oracle Corp. overcame Microsoft Corp. in negotiations for TikTok’s U.S. operations, Bloomberg sources reported September 14. Previous $25 billion offers were made before Chinese officials weighed in with new rules on technology exports.
- Oracle is to take a stake in a newly created U.S. business unit. The company will serve as TikTok’s U.S. technology partner and the video app’s data will be stored in Oracle’s cloud servers.
- The offered Oracle – Byte Dance deal looks like corporate restructuring, comparing to Microsoft’s outright sale proposition.
The bidders for the TikTok US Operations purchase, forced by Donald Trump, were Microsoft, Oracle, Twitter, and Walmart.
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NYSE: WMT, TikTok, Bytedance