Published 12:07 IST, September 16th 2020
Trump says Oracle 'very close to a deal' over ByteDance’s TikTok
Trump said that the tech giant Oracle was close to “sealing the deal” to deter the ban in the US and might be responsible for the management of TikTok's data.
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US President Donald Trump said on September 15 that Oracle was "very close to a deal" with Chinese parent company ByteDance’s TikTok, which, he heard will hold majority stakes. On September 14, Silicon Valley giant anunced that it was chosen to be a US techlogy partner for TikTok, after company outlasted rivals Microsoft and or suitors, including Twitter, Walmart, and Google. Trump said that tech giant Oracle was close to “sealing deal” to deter ban in US and might be responsible for manment of TikTok's data, moving forward, and take a mirity stake. Trump’s comments were made to local US media reporters, a day after US officials confirmed news of Oracle and TikTok’s deal.
Speaking to press, US President said that his administration was going to make a decision “pretty soon”, wher to approve deal and partnership and declare Oracle a “trusted provider" for TikTok. Trump had earlier issued executive orders to t only ban China-owned video app that he links with cybersecurity and national security threats but had also given a deadline to Americans to halt business with company with immediate effect after August. company has until September 15 to make a deal, after that, we close it up in this country, Trump told reporters outside White House, threatening to shut TikTok’s US operations.
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According to local ncy reports, TikTok-Oracle deal needed approval from White House and an obscure but powerful Intelligence Committee on Foreign Investment in United States kwn by acronym CFIUS, a source to local US broadcaster Journal confirmed. As per a separate Fortune analysis, CFIUS is led by US Treasury Secretary and composed of heads of nine powerful ncies, including Pentagon, Justice Department, and Department of Energy. Both parties, TikTok and Oracle would have to meet US data security concerns and will be investigated by low key intelligence ncy which has National Security Council on its wing. "mysterious" US intelligence ncy had brief national attention after 9/11 twin tower bomb blasts when Bush Administration was ted to use CFIUS to block sale of American ports to an entity owned by United Arab Emirates in leaked reports.
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Larry Ellison a 'tremendous person'
A Politico report confirmed that tech giant Oracle's proposed partnership would also be under scrutiny from officials in Washington and will have to undergo a federal review from US lawmakers and advocates. However, last month, US President said in a press address that Oracle could take on TikTok and company was seriously considering overtaking app's operations in US, Canada, Australia, and New Zealand. "Oracle is a great company," Trump was heard saying in a live-streamed press conference while answering questions outside White House. He added, business magnate Larry Ellison, is a "tremendous person" and software company "could handle it."
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12:07 IST, September 16th 2020