More on the Oracle / TikTok hookup - more like a partnership than a purchase
That's the widespread assessment on the early information filtering through about the ByteDance decision on Oracle's bid.
Microsoft is out of the race:
Instead it appears ByteDance has favoured a business partnership with Oracle. Bloomberg report the deal between the two "will look more like a corporate restructuring than an outright sale". Bloomberg citing unnamed sources.
- Terms being discussed with Oracle are still evolving
- For example, Oracle could take a stake of a newly formed U.S. business while serving as TikTok’s U.S. technology partner and housing TikTok’s data in Oracle’s cloud servers.