REDMOND, WA (CelebrityAccess) — Technology giant Microsoft confirmed on Sunday that it is in negotiations to acquire short form video social media service TikTok from Chinese technology company ByteDance.
According to Microsoft, they have already notified the Committee on Foreign Investment in the United States of their interest and the deal 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 and anticipates completing negotiations over the potential sale by September 15th.
According to Microsoft, the sale would allow them to build on TikTok’s existing platform, while enhancing its security, privacy, and digital safety protections.
It is those security and privacy concerns that have drawn scrutiny for TikTok in recent weeks as a possible conduit for collecting personal and sensitive information by the Chinese government.
In June, India announced a ban on more than a dozen Chinese smartphone apps, including TikTok amid deadly border tensions between the two nuclear-armed nations.
As well, in the U.S. last week, President Donald Trump threatened to ban TikTok as early as Saturday, expressing similar concerns.
The threat appears to have prompted Microsoft to step forward about the potential deal and the company said that its CEO Satya Nadella has held discussions with President Trump over the deal.
“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 said.
