Tuck Tok, the world’s largest short-video social sharing application, hinted on September 14 that it may be working with computer software company Oracle in the United States.
Tick Tok hinted at this at a time when a day earlier on September 13, the American company Microsoft had said that the Chinese app management had rejected their purchase offer.
The Associated Press (AP) reports that Byte Dance, the company that owns Tick Talk, has agreed to work with Oracle in the United States instead of Microsoft.
The report quoted a source close to the deal as saying it was unclear whether TuckTalk would sell its US shares entirely to US software company Oracle or a joint venture with it. A new set will be created.
The White House or TuckTalk did not immediately respond to a request for comment, but Oracle declined to comment immediately.
Under the agreement, TuckTalk and Oracle are expected to work together to protect US consumer data on a partnership basis.
In other words, Oracle will only look at the data issues of TickTock users in the United States on a partnership basis, however, it is too early to say anything at this time.
Although the two companies have almost reached an agreement, their agreement will still need the approval of the US and Chinese governments.
The agreement between TickTalk and Oracle will require the approval of the US Treasury Department’s Special Committee on Foreign Investment (CFIUS).
Tik Tak was ordered to sell its US assets in 90 days. Photo: Reuters
The committee is headed by the Secretary of the Treasury, and it is on the committee’s recommendations that the US president will be able to approve or cancel the agreement.
Similarly, both companies have to get approval from the Chinese government.
In addition to Microsoft and Oracle, other companies, including Apple and Will Mart, have expressed interest in buying or viewing US arrangements for TickTalk.
US companies have expressed interest in buying or viewing US arrangements for TickTalk after US President Donald Trump last month accused the Chinese app of national security and gave it 45 days to sell US assets. Was
US President Donald Trump issued an executive order on August 6 last month giving TickTalk a 45-day deadline to sell its US assets to another US company.
The presidential decree said that if Chinese applications were not sold to a US company within the next 45 days, they would be banned in the United States.
TuckTalk was given a deadline of September 15, 2020, but later on August 16, the Trump administration extended the deadline by another 45 days.
Tuck Tok denied the US president’s allegations, saying it did not provide US consumer data to China, and that the application administration had later approached a US court against Donald Trump’s order.
Tuck Tok had filed a lawsuit challenging US President Donald Trump’s August 6 executive order, saying “such a tough decision was made without any evidence and without proper procedure.”
On the other hand, at the end of August, China had updated its export laws, which included sensitive technologies.
China’s state-run Xinhua news agency said in a report that the new rules also meant that Bite Dance, a company owned by Tik Tok, would have to first obtain a license to sell its business in the United States.