TikTok US Acquisition: TikTok, one of the largest online video platform app facing the heat of ban in several countries including India and the USA due to data privacy.
The company just came up with some revival plans in the USA the major tech giants Oracle and Microsft. However, in the race of trusted tech partner Oracle become the winner as TikTok rejected Microsoft’s offer.
In an executive order given by US President Donald Trump ByteDance has been asked to sell its US business to an American company to operate in the USA or wrap up the business form the country.
Now following the order, TikTok has chosen Oracle as a trusted tech partner to sustain the business in the USA. It is important to know that TikTok also received an offer from Microsoft and twitter to acquire the TikTok US Acquisition.
Microsoft was will to take over the business not only in the USA but also in Canada and Asia.
In the past few months, Chinese companies are facing difficulties to operate the business over data privacy concerns. Chinese product manufacturers and app developers are under the radar of global security agencies. Due to the high concern of public security USA and India have banned the TikTok app in their regions. US President even released an executive order to prevent the practices being done by these companies secretly.
Now TikTok mus have to adhere to the order to survive the business in the USA.
After Oracle has taken over the business of TikTok in the USA, President Trump referred Oracle as a great company that can take the lead in TikTok’s business in the USA.
“I think that Oracle would be certainly somebody that could handle it,” he said.
“We would have made significant changes to ensure the service met the highest standards for security, privacy, online safety and combating disinformation,” Microsoft said in its statement.
