Oracle has beaten out Microsoft to win the partnership bid for TikTok’s American operations. The news comes as China’s ByteDance selects Oracle as its US partner for its popular TikTok video service.
Oracle confirmed on Monday that it’s part of a proposal submitted by ByteDance to the US Treasury Department over the weekend to serve as a “trusted technology provider” for TikTok.
The confirmation followed Treasury Secretary Steven Mnuchin’s statement to CNBC that the US government plans to review the deal with Oracle this week.
It is worth mentioning here that Microsoft lost a bid to acquire TikTok in the US. The company said that the “Chinese owner of TikTok ByteDance has informed it that 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. To do this, we 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. We look forward to seeing how the service evolves in these important areas,” Microsoft added.
Oracle is yet to disclose details on the deal.