Tick Tock said ‘NO!’ to Microsoft; Oracle to takeover Tick Tock

The US tech giant Microsoft announced that their offer to buy Tick Tock had been turned down. Following to this report says that Oracle has now came forward to buy Tick Tock.

The Wall Street Journal and the New York Times reported that Oracle had won the auction, but an official confirmation is not yet out.

Sources close to the deal said that Oracle needs the approval of the White House and the US Foreign Investment Commission.

US President Donald Trump has set a deadline to end America’s business with Tik Tok’s Chinese company ByteDance. Trump’s order was to end the operation of the Chinese app or sell its US operations. Since August, Microsoft has indicated it is interested in acquiring Tick Tock’s US operations, but ByteDance rejected this offer.

‘ByteDance has informed us that Tick Tock’s US operations will not be sold to Microsoft. We were confident that our proposal would be better for Tic Tac Toe users while protecting national security interests. ‘Says in a statement released by Microsoft.

In a statement released by Microsoft, the company said that ByteDance has informed Microsoft that Tick Tock’s US operations will not be sold to Microsoft.

“We were confident that our proposal would be better for Tick Tock users while protecting national security interests,” it said.

In the first week of August, the Trump executive issued an order that Tick Tock would have to cease operations in the U.S. if it could not reach a purchase agreement by September 20th.

Meanwhile, Tiktok has filed a lawsuit questioning the US government’s move. The lawsuit was filed alleging that Trump’s order was an abuse of the International Emergency Economic Powers Act.