Microsoft Pursues TikTok Acquisition After Trump Talks
Microsoft confirms plans to explore a purchase of TikTok in the US and several other countries following direct talks with President Trump. The tech giant promises strict data security measures and aims to finalize negotiations by September 15.
Microsoft moves forward with discussions to purchase TikTok in the United States following a conversation between CEO Satya Nadella and President Donald Trump. The company addresses the President's concerns by committing to a complete security review and ensuring the deal provides proper economic benefits to the United States Treasury.
The proposed purchase covers operations in the United States, Canada, Australia, and New Zealand, with Microsoft potentially inviting other American investors to join on a minority basis. Microsoft builds upon a notification already submitted to the Committee on Foreign Investment in the United States (CFIUS) and aims to complete these preliminary discussions no later than September 15, 2020.
Under Microsoft's proposed structure, the company guarantees that all private data of American users transfers to and remains in the United States. Microsoft deletes any existing data stored on servers outside the country and adds world-class security, privacy, and digital safety protections while maintaining the experience current TikTok users love.