Microsoft confirmed that it has been discussing an acquisition of the trendy app in the U.S. and other countries.
The two companies have looked at Microsoft buying TikTok in the U.S., Canada, Australia and New Zealand, and Microsoft might offer other American investors to get involved in the acquisition, Microsoft said. The company did not disclose deal terms.
"This new structure would build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections," Microsoft said. "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."
Trump agreed to give ByteDance 45 days to cut a deal with Microsoft over TikTok, Reuters reported on Sunday, citing unnamed sources. Microsoft said it would make sure that data on TikTok users in the U.S. would be located in the country and that data stored elsewhere would be deleted after it has been moved.
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