Oracle wins bid to become TikTok’s ’trusted technology provider’ in US

• Oracle confirmed Monday it has struck a deal with ByteDance to be its “trusted technology provider” in the US.
• The deal, designed to allow TikTok to stay in the US, has been submitted to approval to the US government.
• The terms of the deal are unclear, but it appears to be an outright sale.
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Oracle confirmed Monday it’s agreed to be ByteDance’s “trusted technology provider” in the US, the culmination of a long battle to find a way for TikTok to remain in the US. 

The proposed deal has been submitted to the US government for approval. The exact terms of the deal are unclear, but it appears that it will not be an outright sale to Oracle.

“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 in a statement. “Oracle has a 40-year track record providing secure, highly performant technology solutions.”