Recently Microsoft had confirmed that it is in talks with ByteDance, a Chinese technology company, to acquire the company’s popular app TikTok in the US. Microsoft made a statement that will continue to work with the US government on a deal that will conclude talks by 15th September. If the deal is finalized, Microsoft will be able to solve the recent controversy in Washington and also be able to gain power in the consumer technology segment. The statement was released after speculation made rounds on the internet that the tech giant was interested in acquiring the popular video-sharing app. After the emergence of the report, President Trump had stated that he was against the idea of Microsoft trying to buy TikTok, and he would ban the app in the country.
Two companies are looking forward to buying TikTok in Canada, New Zealand, and the US. Microsoft will also offer a chance for other investors to get involved in the acquisition. Satya Nadella, CEO of Microsoft, stated that he has spoken to Trump about the acquisition, but the company didn’t disclose the particulars about the deal’s terms. Microsoft wants to make TikTok more transparent, and it was reported that ByteDance was given 45 days to finalize the deal with Microsoft.