The US tech giant Microsoft is in talk of purchasing the most popular Chinese-owned video-sharing app TikTok. On Sunday Microsoft has confirmed about this news. In a statement, Microsoft said that it may invite other investors to participate in the purchase.
Microsoft to Buy the US arm of TikTok
In the blog post, Microsoft posted a statement and said, it will continue discussions on buying TikTok in the US. The CEO of Microsoft Satya Nadella and President Trump discussed about the matter and told about purchasing TikTok in the US.
According to the previous reports, the situation is in the hands of the White House. Microsoft is ready to buy TikTok, but the Presidential sentiment is the problem.
The statement by Microsoft reads,
“Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States. Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”
Microsoft says the discussions about purchasing TikTok from ByteDance will complete in September 15th 2020. And the discussion is going on with the President as well as the US government.
If Microsoft buys TikTok, then it will cover TikTok in the US, Canada, Australia and New Zealand. The data and the privacy protection service will be built for the users as well as appropriate security.
“Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States. To the extent that any such data is currently stored or backed-up outside the United States, Microsoft would ensure that this data is deleted from servers outside the country after it is transferred.”
Microsoft is buying TikTok because ByteDance needs to uncover it to keep running the app in the US. The US is one of the biggest markets of TikTok.
Trump said that it would soon ban TikTok in the United States. Donald Trump and Satya Nadella have spoken and said, Microsoft was prepared to buy TikTok’s US operations after they had a conversation.
In a statement Microsoft said,
“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”