Immediately after acquiring Zoom, Oracle also signed a deal with videoconferencing provider 8×8 Inc. to be its cloud provider, which allowed 8×8 to cut cloud costs and improve performance for users. Oracle’s recent acquisitions of both companies’ businesses has led to the company beating Wall Street’s expectations as market share and profits soared.
However, the TikTok-Oracle deal is far from concrete. There are plenty of opportunities for both Beijing and the Trump administration to pull the plug on the deal as U.S.-China relations have deteriorated over recent months. If the deal is given the green light, this could be the first step in repairing the relationship between Beijing and Washington.
It certainly helps that President Donald Trump is fond of Oracle as a company. He said, “I think Oracle is a great company, and I think its owner is a tremendous guy, a tremendous person. I think that Oracle would be certainly somebody that could handle it.”
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