AkasnhLAST UPDATED: Aug. 3, 2020, 7:01 p.m.
Washington: Microsoft Chief Executive Officer Satya Nadella spoke to US President Donald Trump by phone to rescue a deal for the U.S. operations of TikTok to secure the administration's blessing to buy the wildly popular music video app.
On Sunday, Microsoft in a blog post confirmed talks to buy TikTok's operations in the U.S., as well in Canada, Australia, and New Zealand, and said it's aiming to complete the deal latest by September 15.
The company said in the statement that its plans to crack the deal with TikTok's parent company Bytedance. Microsoft also revealed that it took the decision to pursue the deal with Bytedance after having a discussion with President Trump.
Bloomberg reported that the US President would sign an order to force Bytedance to sign an order to sell the US-arm of TikTok to an American company to address national security issues. Microsoft itself has confirmed the pursuing the details which are as follows about the Microsoft-TikTok deal.
“Microsoft fully understands the importance of addressing Trump's concerns. It is devoted to buy TikTok subject to a complete security review and grant proper economic benefits to the United States, including the United States Treasury. Microsoft will run quickly to conduct discussions with TikTok’s parent company ByteDance, in a matter of weeks, and in any event completing these discussions no later than September 15, 2020,” the company said in a blog post.
“Both companies have provided notice of their bound to explore a preparatory proposal that would connect a purchase of 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 invited other American investors to take part on a minority basis in this purchase,” the blog added.
Microsoft also ensured that the data of American TikTok users will not be shared with any countries and everything would remain in America. However, if by any chance a data goes out of the country, Microsoft will make sure that data is deleted from servers outside the country after it is transferred. For the unversed, TikTok was accused of sharing users’ data with China
Microsoft pledge to acknowledge all the security and privacy interests and it also plans to add world-class security, privacy, and digital safety protections. It also ensures complete clarity to users and the governments.
“This new structure would build on the experience TikTok users currently love while adding world-class security, privacy, and digital safety protections. The operating model for the service would be built to ensure transparency to users as well as appropriate security oversight by governments in these countries,” the company said