Microsoft Confirms Talks to Buy Tiktok In The U.S.
Could Microsoft become TikTok’s new parent company? Microsoft confirmed that it is in talks with the Chinese company ByteDance to acquire TikTok in the United States. Microsoft stated that it will continue to collaborate with the United States. Government on an agreement and it expects to conclude talks by 15 September.
If the deal is completed, Microsoft will be able to resolve a recent controversy in Washington (President Trump had previously stated that he planned to ban the app in the country due to national security concerns) while also gaining power in consumer technology.
The two companies have looked at Microsoft purchasing TikTok in the U.S., Canada, Australia, and New Zealand, and Microsoft may give other American investors to get involved in the purchase.
President DonaldTrump only agreed to allow MicrosoftCorp to negotiate the acquisition of the famous TikTok short-video app if it could secure a deal within 45 days.
Trump’s decision represented a U-turn for him, prompting the U.S. Tech giant to announce their interest in a lucrative social media deal that could further inflame ties between the US and China. Trump said he planned to ban TikTok on Friday.
TikTok’s proposed acquisition, which boasts 100 million U.S. users, would offer Microsoft a rare opportunity to become a significant competitor to social media giants such as Facebook Inc and Snap Inc. Microsoft also owns the professional social networking site LinkedIn.