ByteDance and Oracle have confirmed that Oracle will take over the US operations of TikTok, although details of the deal are still sketchy.
“We can confirm that we’ve submitted a proposal to the Treasury Department which we believe would resolve the Administration’s security concerns,” according to a statement from TikTok owner ByteDance.
Oracle has also confirmed the deal, stating it will act as a “trusted technology provider”.
US president Donald Trump has announced that he wants to ban TikTok in the US due to national security concerns.
ByteDance believes the proposal to work with Oracle will allay those concerns.
“This proposal would enable us to continue supporting our community of 100-million people in the US who love TikTok for connection and entertainment, as well as the hundreds of thousands of small business owners and creators who rely upon TikTok to grow their livelihoods and build meaningful careers,” according to the statement.
“Oracle confirms it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider,” reads an Oracle statement. “Oracle has a 40-year track record providing secure, highly performant technology solutions.”
The deadline for a deal is 20 September.