Microsoft's offer to acquire TikTok business rejected, Oracle reportedly selected as a trusted partner

Microsoft has officially announced that TikTok's offer to acquire its US business has been rejected by TikTok's operator ByteDance. Microsoft had officially commented that it would give up on the acquisition, but it has since been reported that Oracle has successfully acquired the TikTok business.

Microsoft says it's not acquiring TikTok after ByteDance rejects offer --The Verge
https://www.theverge.com/2020/9/13/21360130/microsoft-tiktok-acquisition-bid-rejection-bytedance

Oracle Wins Bidding for TikTok in US, After Microsoft Proposal Rejected --WSJ
https://www.wsj.com/articles/microsoft-drops-out-of-bidding-for-tiktoks-us-operations-11600039821

Microsoft has issued a statement to media companies revealing that ByteDance has rejected its offer to acquire TikTok's business. In a statement, Microsoft announced that 'ByteDance will not sell TikTok's US business to Microsoft. Our proposal is good for TikTok users while protecting national security interests. To make this happen, we make significant changes to ensure that our services meet the highest standards of security, privacy, online security, and the fight against fake information. We are looking forward to seeing how the service TikTok evolves in these important areas. ”

It was first reported on July 31, 2020 that Microsoft had plans to acquire TikTok's US business, after which US President Trump 'considered a ban on TikTok in the United States. I'm doing it, 'he said at a press conference. Later, Microsoft said on its official blog that it was continuing negotiations to buy ByteDance and TikTok, addressing the security concerns raised by President Trump. Microsoft said it would complete negotiations with ByteDance to buy TikTok by September 15, 2020, but that was a failure.

Microsoft continues negotiations to acquire TikTok even after President Trump's statement 'TikTok ban' --GIGAZINE

On the other hand, the possibility of an acquisition of the business by Oracle, which President Trump also supports, remains at the time of writing the article. However, because ByteDance has filed a complaint against the Trump administration, foreign media The Verge pointed out that 'Oracle's acquisition of TikTok's business is complicated.'

Reported that President Trump 'supported Oracle's acquisition of TikTok'-GIGAZINE

by Eddie Awad

But just an hour after Microsoft was reportedly unsuccessful in acquiring TikTok, The Wall Street Journal reported that 'Oracle was chosen as TikTok's trusted partner.' According to media reports, Oracle will not completely acquire TikTok's US business, but will settle down to support operations with cloud technology to continue TikTok's US business.

In addition, Hong Kong media South China Morning Post reported that it received testimony from sources that 'ByteDance discussed at a board meeting that the source code of TikTok could not be sold to the United States', 'American The company that acquired the TikTok business can develop new algorithms. ' According to sources, ByteDance has already notified U.S. government officials and U.S. companies that are embarking on the acquisition of TikTok's business. It matches the report of the Wall Street Journal.

TikTok's algorithm not for sale, ByteDance tells US: source | South China Morning Post
https://www.scmp.com/economy/china-economy/article/3101362/tiktoks-algorithm-not-sale-bytedance-tells-us-source