TikTok attempts to avoid getting shut down while Oracle Corp. is slowly becoming more successful than rival Microsoft Corp. as they battle for the U.S. operations of TikTok.
The deal between TikTok owner ByteDance Ltd. and Oracle is more of a corporate restructure than the sale Microsoft proposed.
One of the many terms discussed is the possibility that Oracle would serve as TikTok’s U.S. technology partner by housing the video app’s data in their cloud servers.
Offers made by both parties valued the U.S. business at about $25 Billion.
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