Microsoft to purchase TikTok in US, Canada, Australia, New Zealand

Microsoft Corp confirmed intent to purchase TikTok service in US, Canada, Australia, and New Zealand, which will lead to tech giant owning and operating TikTok in se markets. confirmation comes after Microsoft CEO Satya Nadella held talks with US President Donald Trump as latter raised concern over security arising out of use of China-based social media app.

Microsoft said in a statement that company “fully appreciates” importance of addressing concerns, adding that it is committed to acquiring TikTok “subject to a complete security review”. It also emphasised on providing “proper ecomic benefits” to US, including Department of Treasury.

“Microsoft will move quickly to pursue discussions with TikTok’s parent company, ByteDance, in a matter of weeks, and in any event completing se discussions later than September 15, 2020,” tech firm added.

Microsoft and ByteDance have tified Committee on Foreign Investment in United States (CFIUS) regarding ir intent to explore a preliminary proposal that would involve a purchase of TikTok service in United States, Canada, Australia, and New Zealand. company may invite or American investors to participate in purchase on a mirity basis.

Read: Microsoft Confirms Talks Seeking To Buy US Arm Of TikTok

Read: Internet Sector In US Calcified; Twitter & FB 't Fun': Chinese Stooge Bats For TikTok

Data to be transferred to US

American tech giant assured that all private data of TikTok US users will be transferred to United States and will remain re. It would also ensure that data currently stored or backed-up outside United States are deleted from servers outside country after it is transferred, said Microsoft.

“ operating model for service would be built to ensure transparency to users as well as appropriate security oversight by governments in se countries,” company said.

It said that “world-class security, privacy, and digital safety protections” will be added to service while retaining experience that TikTok users currently love. Appreciating “personal involvement” of Trump, tech firm said that discussions are preliminary and re can be assurance that a transaction which involves Microsoft will proceed.

Read: TikTok In Advanced Sts To Be Acquired By Microsoft After Trump Considers Banning App

Read: Report Says Microsoft In Talks To Acquire TikTok's US Ops, Trump Considers 'banning' App