Oracle Officially Confirmed The Deal With TikTok
Oracle has officially confirmed the deal with the Chinese company ByteDance (which owns the TikTok app), Reuters writes.
The report emphasizes that the American giant will not become a buyer, but a "trusted technology partner."
Earlier on Monday, September 14, us Treasury Secretary Steven Mnuchin confirmed that the administration of President Donald Trump received an offer from Oracle over the weekend. Katay was asked to make the TikTok video app an American company with its headquarters in the United States. US authorities will review the plan this week.
Oracle is the second-largest software manufacturer in the United States (first place for Microsoft) in terms of revenue. The company specializes in the production of software for organizations. It is a major supplier of server hardware. The headquarters is located near San Francisco (California).