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HomeTechnologyOracle Wins Bid to Buy TikTok

Oracle Wins Bid to Buy TikTok

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Oracle is doing a deal to buy TikTok after Microsoft loses the bid to acquire the company. Terms of the deal have not been set as of yet. The decisions came  before President Donald Trump gave a deadline of September 15th for the Chinese owned app to shutdown in the United States or sell it to a US company.  The administration was concerned that the app was a national security threat over the use of the way it collects data on Americans. President Donald Trump seems to agree that Oracle would be a great fit to take over  TikTok’s operations. Larry Ellison supports Donald Trump for the presidential election upcoming November 3rd.

“ByteDance, the Beijing-based parent company of TikTok, will not sell or transfer the algorithm behind the popular video-sharing app in any sale or divestment deal, according to a source briefed on the Chinese company’s boardroom discussions.”“The company [ByteDance] will not hand out source code to any US buyer, but the technology team of TikTok in the US can develop a new algorithm,” the source told the South China Morning Post. The source, who did not want to be identified, said ByteDance had notified US authorities and potential bidders of the decision.”   Source:South China Morning Post

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