Oracle Confirms Statement

Rhea-AI Summary

Oracle has confirmed its role as a trusted technology provider in the proposal submitted by ByteDance to the U.S. Treasury Department, as stated by Secretary Mnuchin. This partnership aligns with Oracle's 40-year history of delivering secure and efficient technology solutions. The company aims to leverage its expertise to ensure data security and compliance within the framework of this significant proposal.

Positive

• Confirmed role as trusted technology provider for ByteDance proposal.
• 40-year track record in secure technology solutions.

Negative

• None.

REDWOOD SHORES, Calif., Sept. 14, 2020 /PRNewswire/ -- Oracle confirms Secretary Mnuchin's statement that it is part of the proposal submitted by ByteDance to the Treasury Department over the weekend in which Oracle will serve as the trusted technology provider.  Oracle has a 40-year track record providing secure, highly performant technology solutions.

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SOURCE Oracle

FAQ

What is Oracle's involvement with ByteDance?

Oracle is serving as the trusted technology provider in the proposal submitted by ByteDance to the U.S. Treasury Department.

When did Oracle confirm its partnership with ByteDance?

Oracle confirmed its role on September 14, 2020.

What is the significance of Oracle's partnership with ByteDance?

The partnership aims to ensure data security and compliance as part of the proposal to the Treasury Department.

How long has Oracle been providing technology solutions?

Oracle has a 40-year history of delivering secure and high-performance technology solutions.

What is the latest news regarding Oracle's stock symbol 'ORCL'?

The recent confirmation of Oracle's role in the ByteDance proposal could impact investor sentiment related to stock symbol 'ORCL'.