The word is out! Microsoft has finally confirmed that it is in with advanced talks with ByteDance to purchase TikTok’s US business.
Microsoft in a blog post said that CEO Satya Nadella had a conversation with US President Donald Trump and the company has been given the go-ahead to buy TikTok’s US business.
“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,” the company said in a statement.
Microsoft says that it will move quickly in pursuing discussions with ByteDance and these discussions will likely be concluded by September 15, 2020.
The purchase by Microsoft will involve the service provided by TikTok in the US, Canada, Australia, and New Zealand. Microsoft can invite other American investors to participate on a minority basis in the purchase.
Microsoft also said that it will ensure that all private data of TikTok’s American users is transferred to and remains in the US. All the data that is saved on the servers outside will be transferred to servers within the country and deleted from the outside servers thereafter.
Microsoft, however, maintains that these discussions are preliminary and that they may or may not result in a final deal.
TikTok has been looking for ways to distance itself from its Chinese ownership, seeking to reassure the public that no data is stored on servers in China and that the app operates independently. Bytedance even appointed a CEO formerly of Walt Disney Co, Kevin Mayer, to run its operations in America.