34 C
Delhi
Monday, April 12, 2021

Oracle confirms TikTok deal, says will serve as ‘trusted tech provider’

- Advertisement -

oracle tiktokSan Francisco, Sep 14 (IANS) Cloud major Oracle on Monday confirmed a deal with ByteDance, the Chinese owner of short video-sharing platform TikTok which has been under pressure to divest its US operations for more than a month now.

The confirmation by Oracle comes a day after Microsoft, which was among the frontrunners to seal a deal for TikTok’s US operations, revealed that its bid was rejected by ByteDance.

“Oracle confirms Secretary (Steven) 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.

READ ALSO:  Facebook will now pay you for doing market research

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

Earlier in the day, US Treasury Secretary Mnuchin said that the US government received a proposal from Oracle related to the TikTok deal over the weekend and that the government plans to review the deal 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 told CNBC.

The Donald Trump administration had earlier raised concerns that the Chinese state could have access to TikTok user data.

READ ALSO:  Ex-bureaucrat says dots link Bollywood, cricket and Dubai in SSR and Disha deaths
READ ALSO:  Usha Rao-Monari appointed UN Under Secretary General

Both China and TikTok denied the allegations. That, however, did not stop the Trump administration to put pressure on the short video-sharing platform to divest its US operations.

However, the negotiations got complicated after China updated its list of technologies that are subject to export ban. The new list includes technology used by ByteDance, leading the company to assure that it will adhere to export restrictions.

TikTok was banned in India in June, along with 58 other Chinese apps over national security concerns.

Source: IANS

India Updates
India Updates is an independent news & Information website. Follow us for regular updates on News and Information.

Follow Us On

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Trending Topics In India

Covid 19 India Updates

Trending News In India

Trending Showbiz

Trending Sports

Latest Trending News In India