After one and a half months of all kind of negotiations, rumours and speculations on TikTok acquisition deal in the US, the dust is finally settling down. Microsoft TikTok deal has fallen apart as the ByteDance has turned their back on the US software giant, officially.
In a brief press note, Microsoft has stated that ByteDance has denied selling TikTok to Microsoft. While the rest of the note doesn’t say anything significant but a bit of disappointment is clearly visible as the US tech giant has emphasised on the fact that all kind of measures and changes required to take the deal to a conclusive end were introduced during the course of negotiation and talks.
While, it’s not confirmed yet that on what grounds the acquisition talks between TikTok and Microsoft – the most probable acquirer – failed, few of the insiders spilt beans that it’s due to the agreement signed between Oracle and ByteDance for TikTok US operations.
Yes, you read it correctly, it’s Oracle that apparently has the last laugh in TikTok acquisition deal!
Just an hour after the Microsoft confirming the failure of TikTok acquisition talk, WSJ confirmed Oracle as the ‘trusted technology partnership deal’ with TikTok in the US.
Oracle will provide all the cloud technology to ByteDance to host all the data of TikTok in the US itself. However, neither Oracle nor ByteDance has made any statement on the acquisition of TikTok in the US – the main bone of contention between the Trump government and TikTok.
On August 06, the Trump Government set the deadline of 45 days for TikTok to sell its US operations to a suitable US company. Later the duration was extended to 90 days given the complexity involved in the discussion and evaluation.
With Oracle by its side, it would be interesting to see if the deadlock between TikTok and the US government ends now. To put things in perspective, Oracle CEO Larry Ellison is quite close to the US President Donald Trump. Besides having some of the prominent personalities on Oracle board, Larry also hosted the fundraising party for Trump at his house last week.
As China has put its foot down opposing the sales of TikTok to any US company, ByteDance is apparently betting on the relationship between Larry Ellison and Donald Trump by signing a ‘partnership deal’ with Oracle.
It would be interesting to whether such move by ByteDance convince Trump administration or takes TikTok to certain death in the US.
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