Oracle wins deal for TikTok’s US operations; whether it resolves Trump’s national security concerns remains unclear

This appeared in The Millennial Source

By pulling off a deal with Oracle in the nick of time, TikTok has managed to stay alive in the US after facing weeks of uncertain future

On Monday, September 14, Oracle Corp. won the bid to acquire the United States operations of the popular Chinese app TikTok after the app’s parent corporation Bytedance Ltd. rejected Microsoft’s acquisition offer.

The development took place less than two days before the expiry of President Donald Trump’s September 20 deadline to ban the video-sharing app if its American operations went unsold.

Treasury Secretary Steven Mnuchin announced on Monday that the deal had been confirmed and it would be presented to President Trump with a recommendation later this week.

“I will just say from our standpoint, 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,” Mnuchin said on CNBC.

Oracle later confirmed Mnuchin’s statement saying, “it is part of the proposal submitted by ByteDance to the Treasury…