San Francisco. Microsoft has officially announced that it is in talks to buy the US, Canada, Australia and New Zealand operations of the video-sharing platform TickTock. The announcement comes after a meeting between Microsoft CEO Satya Nadella and President Donald Trump. Microsoft said in a blogpost on Monday that Microsoft is fully prepared for further negotiations to purchase TicketLock in the US.
The company said that we recognize the importance of Microsoft President's concerns. We are fully committed to acquiring TickTock for complete security review and providing economic benefits to the United States. The official announcement was made by Microsoft following a report that said that Microsoft had stopped talks to buy the Chinese app Ticketcock after President Trump had announced TicTalk to be banned soon. TikTok has 80 million monthly users in the US.
According to the report published in WallStreet General, Microsoft said that talks with Tittock's parent company, ByteDance, will be taken forward soon. This conversation will be completed in a few weeks. The company said that it will complete the deal by 15 September 2020 under any circumstances.
During this process, Microsoft will continue negotiations with the US government and President Donald Trump. The notification of negotiations with ByteDance has been jointly presented to the Foreign Investment Committee in the United States by Microsoft and ByteDance. The two companies have given information about the proposed deal to buy TickTock's operations in the US, Canada, Australia and New Zealand. As a result, Microsoft will own TickTock in these markets.
Microsoft has said that it will also invite other US investors for the deal. Microsoft said that it will ensure that private data of American users of TickTalk will be brought to the US and kept here. The company further said that after transferring such data kept outside the US, Microsoft will delete it from the foreign server.
Last week Tittock announced $ 2 billion in funding for its creators worldwide over the next three years. Tittock has also denied any Chinese government control over him.
This post was published on August 3, 2020 11:51 am
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