Microsoft in talks with ByteDance to acquire US arm of TikTok
If the deal is finalised, Microsoft will own and operate the video-sharing app in the US, Canada, Australia and New Zealand
Microsoft on Sunday confirmed that it is in talks to acquire the US arm of ByteDance-owned video sharing platform TikTok, ending speculations surrounding the topic. The company informed that they have discussed the matter with US President Donald Trump about the security and censorship of TikTok.
Both Microsoft and ByteDance have communicated their decision to go ahead with the talks, which may result in the former owning and operating the service in US, Canada, Australia and New Zealand. The company said that the discussions may conclude by September 15. Financial details of the deal have not been disclosed yet.
TikTok has been dominating discussions in the US about concerns over the app sharing user data with the Chinese government. The app along with 105 other China-made apps have been banned by the Indian government in two phases. On Friday, President Trump has communicated his intent to ban TikTok in the US.
Microsoft released a statement saying, "It (Microsoft) 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."
The company also stated that it may invite other US investors to participate in the purchase.
