Tech giant Microsoft has confirmed that talks to acquire the US operations of Chinese-owned video-sharing app TikTok is underway.
Following a discussion with Microsoft CEO Satya Nadella with President Donald 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 will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020. During this process, Microsoft looks forward to continuing dialogue with the United States Government, including with the President the company added.
Microsoft said it was looking to purchase the TikTok service in the US, Canada, Australia and New Zealand, and would operate the app in these markets.
The tech company also revealed that they may invite other American investors to participate on a minority basis in this purchase.
This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries.
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.