Is TikTok For Sale? New Oracle Deal Confirmed

TikTok is reported to not be for sale. But Oracle confirmed an agreement to become a “trusted technology partner” to help TikTok stay in the U.S.

TikTok is reported to not be for sale, neither to Microsoft or to Oracle. Chinese regulatory issues may block any sale that includes TikTok’s technology. Yet Oracle did confirm today that a deal is happening.

Oracle has confirmed that comments by Treasury Secretary Mnuchin that  deal between Oracle and TikTok is being worked out.

According to a press release:

“Oracle confirms Secretary Mnuchin’s statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider.  Oracle has a 40-year track record providing secure, highly performant technology solutions.”

The report on an Oracle deal is that Oracle will be in charge of TikTok’s U.S. data.

But another report from China says no outright sale is happening.

TikTok Will Not Sell

According to reports from the China Global Television Network, unnamed sources confirmed that TikTok will not be selling it’s United States business or it’s technology to any United States business.

The news comes literally a day before the September 15 TikTok ban deadline set by the White House executive order to begin identifying ways to ban “transactions” with ByteDance.

TikTok Acts to Remain Independent

Recent activities on the part of TikTok indicates that it may be proceeding with a strategy to not sell the United States operations.

TikTok Sues United States Government

TikTok is suing the United States government to keep things as they are.

According to TikTok, the United States government already knows that TikTok shields user privacy and information against the Chinese government.

TikTok passed national security scrutiny as part of its acquisition of Musical.ly.

Read more: searchenginejournal