Oracle confirms it has reached a deal to become TikTok’s ‘technology partner’
- Proposal comes just ahead of US President Trump’s threat to ban the video-sharing app on national security grounds
- Treasury Secretary Steven Mnuchin says the plan will undergo review, with a recommendation issued by the end of the week
Oracle Corp confirmed on Monday it had reached a deal to become the “technology partner” of TikTok, the popular video-sharing app, ahead of a deadline imposed by US President Donald Trump for the Chinese company ByteDance to sell TikTok’s US assets.
“Oracle confirms Secretary Mnuchin’s statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider,” Oracle said, referring to Treasury Secretary Steven Mnuchin.
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Oracle reaches deal to become TikTok’s ‘technology partner’, after Microsoft offer is rejected
In an interview on Monday morning on CNBC, Mnuchin said the US government had received a proposal over the weekend that included Oracle, based in Redwood City, California, as a partner to alleviate the Trump administration’s national security concerns over data privacy.
Mnuchin did not say the US would approve the proposal, only that it would undergo a review both by the inter-agency Committee on Foreign Investment in the United States (CFIUS) and another specifically investigating national security concerns. A recommendation, Mnuchin added, would be made by the end of the week.
Mnuchin, who clarified that the deadline for a sale was September 20, said “we’ll need to make sure that the code is, one, secure; Americans’ data is secure; that the phones are secure; and we’ll be looking to have discussions with Oracle over the next few days with our technical teams”.
