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Following the declaration of US President Donald Trump in banning the operation of the Chinese-owned video-sharing app, the Microsoft Team has announced its pursuit of acquiring TikTok.
According to the Official Microsoft Blog, Microsoft aims to advance immediately to conduct discussions with ByteDance, TikTok’s parent company within weeks or in no later than September 15, 2020.
“Microsoft fully appreciates the importance of addressing the President’s concerns,” the company said in a statement. “It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.”
The disclosure was led by the series continuing pressure from the Trump administration, raising concerns over data and security act. Moreover, Trump mentioned that it could be banned as soon as Saturday, August 8.
Furthermore, TikTok responded to the president’s pronouncements through a video message on its original platform and Twitter, addressing the community with a data declaration.
“We’ve heard your outpouring of support, and we want to say thank you. We’re not planning on going anywhere,” said US General Manager Vanessa Pappas. “I’m also proud of our 1,500 US employees who work on this app every day, and the additional 10, 000 jobs that we’re bringing into this country over the next three years,” she continued.
Both companies have presented a notice of their plan to traverse a preliminary proposal that involves acquiring the TikTok service in the United States, Australia, New Zealand, and Canada.
Outside investors and other American companies may participate in the purchase of minority investments in any deal.
Addressing the top concerns, it was also indicated that Microsoft would ensure the users’ data privacy by deleting user-stored content and information outside the country’s servers.
The team’s new model structure would maintain its user-based experience while adding security and digital safety protections to guarantee transparency and appropriation of security.
“Microsoft appreciates the U.S. Government’s and President Trump’s involvement as it continues to develop strong security protections for the country.”
While the companies’ discussions are preliminary, Microsoft assures that no other transactions would be held in the meantime. Further updates would be posted once definitive outcomes are decided.
Meanwhile, every marketing exchange to Microsoft would value TikTok an estimated billion dollars, making Microsoft a new challenger to the most popular social media platforms such as Facebook, with its continuing focus on software enterprises.