World_news Oracle Wins Bidding for TikTok in U.S., After Microsoft Proposal Rejected – The Wall Street Journal

World_news

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.

The next step is for the White House and the Committee on Foreign Investment in the U.S. to approve the deal, the person said, adding that the participants believe it satisfies theconcerns around data securitythat have been previously raised by the U.S. Government.

The White House declined to comment on the deal on Sunday.

Microsoft earlier Sunday said it was notified earlier in the day of the decision by TikTok parent ByteDance Ltd.

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