TBA Law Blog

Posted by: Stacey Shrader Joslin on Sep 14, 2020

Oracle has reached a preliminary “technical partnership” agreement with ByteDance, the parent company of the video app TikTok, to manage the apps’ U.S. operations, the Nashville Business Journal reports. According to sources close to the negotiation, Oracle out bid Microsoft but the deal does not include a full sale of the app. Oracle reportedly plans to purchase an equity stake in the service and address national security concerns raised by the government. Existing ByteDance investors also are expected to be part of any final deal so talks may be continuing and could change. Any deal also would require the support of the U.S. and Chinese governments.