Tickcock has reportedly signed a deal with Oracle to sell its US operations to the US software giant just before the September 15 deadline to sell the business imposed by President Trump.
The deal ensures that the popular social media app remains operational for millions of its fans in the US
News of the acquisition did not come long after the original forerunner, with Microsoft announcing that it had failed in its bid to acquire Tiktok’s US operations after prolonged negotiations with the app’s Chinese owner, ByteDance.
Digital Trend has reached out to Oracle for details of the deal with TikTok and we will update this piece when we hear back.
After President Donald Trump issued an executive order in early August, a buyer for Teatalk issues an executive order until ByteDance sold its American assets to an American company until September 15, 2020.
An executive order later extended the deadline to 12 November, but last week Trump told reporters that the deadline would not actually be extended and that Bytdance had until September 15 to reach a deal.
As part of the Beijing-based ByteDance, Trump considered Tittock a threat to national security.
In the original executive order, Trump said Tiktok “automatically obtains a large number of information from its users, including Internet and other network activity information, such as location data and browsing and search history.”
It added that if the Chinese government accesses Tiktok’s data, it could potentially allow “federal employees and contractors to track locations, create dossiers of personal information for blackmail, and conduct corporate espionage . “
The order also claimed that Tiktok is “allegedly censored content” that the Chinese government considers politically sensitive, adding that the app could also be used for “campaigns that are Chinese Communists benefit the party. “
Tiktok said at the time that it was “surprised”, adding that it “never shares user data with the Chinese government, nor censored content at its request.”
The app is believed to have around 100 million monthly active users in the US, and around 800 million users globally.