Trump Approves Deal Between Oracle and TikTok

There is a topic that has frequently occupied the technology agenda lately: TikTok and US tension. US administration, TikTok sees it as a national threat and wanted its US operations to be sold to another company.

The tension between the two finally came to an end. TikTok's parent organization ByteDance reached an agreement with US software giant Oracle. US President Donald Trump officially announced that he approved the agreement between the two companies.

TikTok and Oracle agreement approved

According to the agreement made between the two companies, TikTok's source codes will not be shared. US President Trump told reporters that the headquarters of the new company will be in Texas. Trump said the new company will employ 25 thousand people and contribute to the US economy. $5 billion announced that he would contribute.

Of course, it is not enough for an agreement to be signed between the two companies and then approved by Donald Trump. In addition, the Chinese government must also approve this agreement. ByteDance, Compliant with US and Chinese laws He announced that they are working to reach an agreement as soon as possible. In addition, the date of September 20, which was set for the removal of TikTok, was postponed to September 27 due to positive developments.

Details of TikTok and Oracle agreement

By agreement TikTok Global A new company called will be established and this company will be located in Texas, as mentioned above. The majority of company managers will consist of US directors. In their joint statement, TikTok and Walmart announced that they invested together to purchase 20% of the newly created TikTok Global.

Moreover, this agreement between the companies does not correspond very much to what was predicted by Donald Trump. Trump expected it to be sold to US companies, but the results of the agreement were not like that. It's more of a combination between three companies. business partnership It took place as follows.