Yeah so not exactly?
Oracle is set to be announced as TikTok’s “trusted tech partner” in the U.S., and the deal is likely not to be structured as an outright sale, the people said.
Larry Ellison will pay some nominal fee in order to be the face of TikTok so that the Chuds can claim a win
On Monday, Treasury Secretary Steven Mnuchin confirmed that his office received a bid proposal from Oracle for TikTok’s operations over the weekend and said that the Treasury-led Committee on Foreign Investment in the U.S. would review it this week.
On Monday, Mnuchin jawboned Ellison to get him to say he'd spent money bearding TikTok
“From our standpoint, we’ll need to make sure that the code is, one, secure, Americans’ data is secure, that the phones are secure and we’ll be looking to have discussions with Oracle over the next few days with our technical teams.”
Despite the fact that all technology and all patents remain in China
Mr. Mnuchin also said the Oracle deal includes a commitment to establish TikTok as a global company headquartered in the U.S., which he said would mean 20,000 new jobs.
Kinda how Carrier "committed" to not shutting down that plant, and how Foxconn "committed" to opening a factory in Wisconsin
Two people familiar with the Oracle deal said it was more appropriate to call it a partnership, rather than an acquisition, suggesting that there wasn’t an exchange of significant assets.
Larry Ellison agreed to throw money at ByteDance so that the orange man could pretend he accomplished something before his deadline made it immediately obvious that he had not
While China’s recently announced trade restrictions made acquiring TikTok’s algorithm tricky, Microsoft remained committed to acquiring the app’s powerful suggestion algorithms, said a person familiar with the matter. Without outright purchase of the algorithms, Microsoft wouldn’t be able to follow through with its stated commitment to national security issues.
While Microsoft made a good-faith effort to buy a foreign company under duress, the foreign company told them to piss up a rope, according to a person familiar with the matter.