After weeks of negotiation, speculation, and a lot of ads from TikTok, the Oracle partnership is set to be approved by the White House.
ICYMI: On August 6th, President Trump issued an Executive Order which called for the sale of the app to an American company due to security concerns. Earlier this week, Oracle was announced as the new partner with TikTok's parent company ByteDance.
While the specifics of the deal are not yet public, CNBC reported:
"Approval of Oracle’s deal to become a “trusted technology provider” for ByteDance’s TikTok will be announced on Tuesday afternoon. Oracle confirmed Monday that it had struck a deal with the popular video-sharing app’s Chinese parent company."
Not much will publically change on the app, Oracle will now license the technology from ByteDance bringing the storage of the data over to Oracle.
While this deal hasn't come to light without its controversy, we are watching this story very closely and will update you with new breakthroughs.