Microsoft Confirms Interest in Buying TikTok
When President Trump voiced concerns about the device gathering data on American civilians and the danger posed to national security, TikTok found itself in hot water. Owner ByteDance has so far been unsuccessful in working out an arrangement with the U.S. government in order to suggest an alternative solution – Microsoft could purchase TikTok.
The software giant officially confirmed that CEO Satya Nadella has been in talks with the President as well as ByteDance. 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.”
By September 15 of this year the talks with ByteDance will be done, one way or another. If Microsoft reaches an agreement, it will acquire TikTok operations in selected markets and will invite other US investors to take a minority share.
Note that the company is only looking to run TikTok services in the United States, Canada, Australia and New Zealand. ByteDance will continue operating the social network in the remaining markets.
Microsoft will ensure that the private data of American users is transferred to the US. The company is also committed to offering security oversight to the local governments.
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TikTok’s US arm alone is valued between $15 and $30 billion. This will be a major get for the company as Microsoft’s other social networking attempt, streaming platform Mixer, was recently sent to the great server farm in the sky (this after signing multi-million dollar contracts with popular streamers to lure them away from Twitch).