Computer software company Oracle has won the bidding for TikTok's US operations, according to an article by Reuters.
Sources said ByteDance had selected Oracle as partner to try to save TikTok U.S.
Microsoft, who had previously negotiated to buy TikTok said earlier Sunday its bid to buy the app had been rejected. The agreement comes a week before the deadline President Trump established to to ban the Chinese-owned app in the US due to data-mining concerns.
Oracle will be ByteDance's technology partner and will handle TikTok's US data. The deal will be structured not as a sale but as a restructuring, the source said.