Oracle Corp. won the bidding for the U.S. operations of the video-sharing app TikTok, a person familiar with the matter said, beating out Microsoft Corp. in a deal to salvage a social-media service that has been caught in the middle of a geopolitical standoff.
Oracle is set to be announced as TikTok’s “trusted tech partner” in the U.S., and the deal is likely not to be structured as an outright sale, the person said.
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