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Political and Legislative

TikTok Reaches Deal to Sell to Oracle, Rejecting Microsoft

TikTok has reached an agreement to partner with software giant Oracle, a landmark deal that could redefine how the U.S. and China square off over the reach of their homegrown technology companies.

The deal, which was confirmed Sunday by a source with direct knowledge, comes after the Trump administration pressured TikTok to sell its U.S. business over concerns about the threat to national security. The administration alleged that the company’s ties to China through its parent company, ByteDance, meant it would have to hand over data about Americans if asked by China’s government. TikTok has denied that it would hand over data, which it stressed is stored outside China.

The source would not detail which parts of the technology were being taken over by Oracle, which did not immediately respond to a request for comment Sunday. Microsoft had been considered a front-runner to buy TikTok US until this weekend. Microsoft said earlier that ByteDance had alerted the company that it was passing on its proposal.

Read the source article at NBC News

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