ByteDance, the parent company of the video-sharing mobile app TikTok, has chosen Oracle to be TikTok’s U.S. technology partner, and Oracle will take a significant stake in the business, CNBC reported on Sunday, citing a person familiar with the discussions.
Microsoft said Sunday in a blog post that ByteDance had chosen not to sell it TikTok’s U.S. assets. “ByteDance let us know today they would not be selling TikTok’s U.S. operations to Microsoft.”
TikTok declined to comment. Oracle representatives did not immediately respond to requests for comment, CNBC said.
The White House had imposed a Sept. 20 deadline for ByteDance to announce a plan for a sale of TikTok in the U.S. or be banned by Sept. 29, and a deal would have to be done by Nov. 12, as per CNBC.