Microsoft to buy TikTok in the US

Microsoft to buy TikTok in the US

Days after US President Donald Trump said that he will ban TikTok in the country, Microsoft confirmed that it has plans to purchase TikTok. The company said in a statement that it plans to seal the deal with TikTok’s parent company, Bytedance by September 15. Microsoft also revealed that it took the decision to pursue the deal with Bytedance after having a discussion with President Trump.

It was earlier being reported by Bloomberg that the US President would sign an order to force Bytedance to sign an order to sell off the US-arm of TikTok to an American company to address national security issues. However, now that Microsoft itself has confirmed the pursuing the details here are some key points you should know about the Microsoft-TikTok deal.

—Microsoft said in a blog post that it had a discussion with US President Donal Trump abo. ut acquiring the short video platform, TikTok. “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,” the company said in a blog post.

—Microsoft plans to take over the US operations of TikTok by September 15 however in order countries there won’t be any changes. However, if Microsoft cracks the deal If Microsoft takes it will operate the short video platform in countries including the United States, Canada, Australia, and New Zealand.“The two companies have provided notice of their intent to explore a preliminary proposal that would involve a purchase of the TikTok service in the United States, Canada, Australia, and New Zealand and would result in Microsoft owning and operating TikTok in these markets. Microsoft may invite other American investors to participate on a minority basis in this purchase,” the blog said.

— Microsoft also ensured that the data of American TikTok users will not be shared with any countries and everything would remain in America. However, if by any chance a data goes out of the country, Microsoft will make sure that data is deleted from servers outside the country after it is transferred. For the unversed, TikTok was accused of sharing users’ data with China

—Microsoft promises to acknowledge all the security and privacy concerns and it also plans to add world-class security, privacy, and digital safety protections. It also ensures complete transparency to users and the governments. “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,” the company said

— Microsoft also revealed that the discussions are preliminary and it doesn’t intend to provide any other update about its discussion with Bytedance until there is a final outcome.