Microsoft Eyes TikTok Acquisition
“Microsoft fully appreciates the importance of addressing the president’s concerns. 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.”
After talks with the USFG, Microsoft is committing to complete a deal to acquire TikTok from ByteDance and is looking to reach a conclusion by September 15, 2020. The deal is subject to a complete security review and providing proper economic benefits to the US, including the US Treasury.
🖥️ Both parties provided notice of their intent to explore a preliminary proposal for purchase of the TikTok service in the United States, Canada, Australia, and New Zealand.
🖥️ Microsoft would own and operate TikTok in these markets.
🖥️ Operating model would be built to ensure transparency to users as well as appropriate security oversight by governments.
🖥️ Would build on existing TikTok experience and add world-class security, privacy, and digital safety protections.
🖥️ Microsoft would ensure that all private data of TikTok’s American users is transferred to and remains in the United States, global data would be deleted from servers outside the country after it is transferred.
TikTok would be free of a lot of scrutiny and would greatly benefit from the protection Microsoft brings to the table, but considering the tech giant’s dismal history with social media platforms, it remains to be seen how successfully it will be managed. Microsoft has been primarily focused on enterprise to date.