ByteDance, the parent company that manages TikTok’s US operation, has reportedly selected Oracle to be the tech partner to oversee TikTok’s operations in the United States. However, it’s confirmed that Microsoft’s bid to acquire this deal has been rejected. This move by ByteDance to look for a tech partner has come after President Donald Trump threatened to impose a ban on this highly-popular app until and unless its American operations are sold.
Earlier, the Donald Trump administration has slated September 20 as the deadline for TikTok to announce a plan for the sale of its US operations or else stated that the app would be banned in the country by the end of this month.
Mind you! There is no clarity whether Oracle would acquire a majority ownership stake of this TikTok app as no official statement is issued as of now.
Experts, who have been keeping an eye on this bid to acquire the TikTok deal, are of the view that the US tech giant Microsoft has the perfect amount of capital to pump into this acquisition of the US operations of TikTok from ByteDance.
According to an official statement issued by Microsoft, “ByteDance let us know today they would not be selling TikTok’s US operations to Microsoft. We are confident our proposal would have been good for TikTok’s users, while protecting national security interests.”
However, Microsoft showcased its confidence that it 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. It further asserted that Microsoft would look forward to seeing how the service evolves in these important areas.
While participating in the race to acquire this bid, Microsoft had stated that would ensure that all private data of TikTok’s American users are transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.
Microsoft appreciates the US Government’s and President Trump’s personal involvement as it continues to develop strong security protections for the country.
“These discussions are preliminary and there can be no assurance that a transaction which involves Microsoft will proceed. We do not intend to provide further updates until there is a definitive outcome to our discussions,” it had added.
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