Microsoft gets a green signal for TikTok purchase in the U.S.; deal deadline set to Sept. 15

After a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft has decided to continue the discussion on the purchase of TikTok in the United States. Microsoft will complete the final negotiations to buy TikTok by September 15, 2020.

Microsoft said that it is fully committed to addressing U.S. President’s concerns. Microsoft will perform a thorough security review for TikTok. This Microsoft- TikTok deal will also provide proper economic benefits to the United States, including the United States Treasury.

During this negotiation, Microsoft expects to work directly with the United States Government, including the President. Microsoft will proceed immediately to continue negotiations with TikTok’s parent company, ByteDance, in a matter of weeks, and will complete the discussion by September 15, 2020.

TikTok and Microsoft have provided notice of their intent and are exploring a proposal to purchase 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.

Microsoft would also ensure that all private data of TikTok’s American users are transferred to and remains in the United States. Microsoft will delete TikTok data currently stored or backed-up outside the country.

Microsoft wrote in its official blog that – “It appreciates the U.S. Government’s and President Trump’s involvement as it continues to develop robust security protections for the country. These discussions are preliminary, and there can be no assurance that a transaction that involves Microsoft will proceed. Microsoft will provide updates once there is a definitive outcome of our discussions.

Popular short-form video app TikTok is on the edge of getting the ban in the U.S. Microsoft came as a potential buyer to buy TikTok U.S. operations. The Microsoft TikTok deal would be a win-win deal as Microsoft is desperately looking to increase Market Share in the digital advertising space.

If you have not read why Microsoft wants to buy TikTok then read below story:

Why Microsoft wants to buy TikTok

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