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BRIEF-Oracle To Take A 12.5% Stake In TikTok Global

Published 2020-09-19, 07:00 p/m
© Reuters.
ORCL
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Sept 19 (Reuters) - Oracle Corp (NYSE:ORCL) ORCL.N :

* ORACLE CHOSEN AS TIKTOK'S SECURE CLOUD PROVIDER

* WAS CHOSEN TO BECOME TIKTOK'S SECURE CLOUD TECHNOLOGY PROVIDER

* ORACLE-TECHNICAL DECISION BY TIKTOK HEAVILY INFLUENCED BY ZOOM'S RECENT SUCCESS IN MOVING LARGE PORTION OF VIDEO CONF CAPACITY TO ORACLE PUBLIC CLOUD

* TIKTOK WILL RUN ON ORACLE CLOUD AND ORACLE WILL BECOME A MINORITY INVESTOR IN TIKTOK GLOBAL

* ORACLE WILL QUICKLY DEPLOY, RAPIDLY SCALE, AND OPERATE TIKTOK SYSTEMS IN ORACLE CLOUD

* ORACLE TO TAKE A 12.5 PERCENT STAKE IN TIKTOK GLOBAL

* 100% CONFIDENT IN ABILITY TO DELIVER HIGHLY SECURE ENVIRONMENT TO TIKTOK AND ENSURE DATA PRIVACY TO TIKTOK'S AMERICAN USERS

* ORACLE - TO COMBINE SECURE CLOUD TECH WITH CONTINUOUS CODE REVIEWS, MONITORING, AUDITING TO ASSURE THAT U.S. TIKTOK USER DATA IS PRIVATE, SECURE

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