Microsoft has confirmed that it plans to buy Chinese video-sharing giant TikTok following “personal” assurances from President Donald Trump. The news comes soon after the US expressed intentions to ban TikTok from the region.
Company chief executive Satya Nadella had a conversation with the President about the acquisition on Sunday. The tech firm said that it is moving quickly to pursue discussions with TikTok’s parent company ByteDance and are aiming to conclude the discussions by September this year.
Talks had been halted following Trump’s declaration that he had the authority to ban the app all over the US and was opposed to any deal. However, the President gave his approval to Microsoft on Sunday after the meeting with the CEO.
Microsoft plans to buy TikTok in the US, Canada, Australia, and New Zealand and wants to operate the app within these regions. Additionally, the company may invite other American investors to participate in the purchase on a minority basis.
It will also ensure that the data of TikTok users will be transferred to the US data centers and will remain there.
This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections. Among other measures, Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States.
However, the tech giant said that they are still in the preliminary stages of the acquisition and there is no confirmation on whether they will proceed with the purchase or not.