Technology

Oracle's proposed bid for TikTok is reportedly facing roadblocks over continued national security concerns

Posted On: Sep 16, 2020   |   Posted By: Business Insider

Oracle's proposed bid for TikTok is reportedly facing roadblocks over continued national security concerns

Summary List Placement
US officials are reportedly raising last-minute national security concerns over whether Oracle's US partnership with TikTok would do enough to adequately keep American users' data safe from China.
Bloomberg reports that this debate has delayed the US government from signing off on the proposed Oracle bid, in which the cloud company would become TikTok's "trusted technology provider" in the US. Despite the bid's design to assuage national security concerns, officials are reportedly "wary" about whether the company's proposed US restructuring would adequately stave off China's influence.
The TikTok-Oracle partnership, which took shape just this week, is a far cry from Trump's early demands that TikTok's parent company sell off its US operations entirely. As part of the proposed deal , ByteDance would break off TikTok's global business as its own US-based entity, in which Oracle would become minority shareholder. It also appears that Oracle would take over management and processing of...

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