TikTok and Oracle will become business partners in the US — a deal meant to satisfy the Trump administration's national security concerns, a source says
Talk of a sale began as President Donald Trump issued executive orders last month seeking to ban TikTok and requiring that its US operations be spun off from its Beijing-based parent company, ByteDance. The exact nature of the agreement between TikTok and Oracle remains unclear, but it was not described as an outright sale. The news about Oracle came just after Microsoft announced that it will not buy TikTok's US operations from its ByteDance.
Read MoreTrump and other US politicians have said the app poses a threat to national security. TikTok has denied the allegation and sued the Trump administration over one of the orders, calling it"heavily politicized.
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