Oracle Emerges As TikTok's "Trusted Tech Partner" For US Operations After ByteDance Rejects Microsoft's Bid

Technology major Oracle Corporation has trumped Satya Nadella led Microsoft Corporation to take over the United States (US) management of Chinese behemoth ByteDance's TikTok platform, reports The Verge citing a Wall Street Journal report.

As per the report, while Oracle had earlier been reported to be a part of the bidding process, Oracle has been selected as a "trusted tech partner" who will help in running the US operations with its cloud technologies.

The development came out merely an hour after Satya Nadella led Microsoft Corporation announced that it was no longer acquiring TikTok after its bid was rejected by ByteDance. Microsoft had earlier emerged as a frontrunner to take over the company's operations not just in the US, but also in Australia, Canada and New Zealand.

This will be different from an outright sale as had been expected earlier, following President Donald Trump's 6 August executive order which banned all transactions with ByteDance and demanded an American company purchase Tiktok's US business within 45 days of the order.

Later on, President Trump had signed another order giving ByteDance 90 days to sell or spin-off TikTok's operations in the US.