President Trump Gives TikTok 45 Days To Finalize Acquisition Deal With Microsoft

Aadhya Khatri - Aug 03, 2020


President Trump Gives TikTok 45 Days To Finalize Acquisition Deal With Microsoft

On Sunday, Microsoft confirmed its intention to acquire TikTok’s operation in the US. Talks are said to be concluded on September 15

On Sunday, Microsoft confirmed its intention to acquire TikTok’s operation in the US. In a statement, the company said it would continue to works closely with the US government and the talks with ByteDance would be concluded on September 15.

If the deal with the Chinese tech giant was to be consummated, Microsoft would achieve two goals – strengthen its position in consumer technology with the popularity of TikTok, and resolve an ongoing controversy in Washington.

ByteDance TikTok Microsoft acquisition
On Sunday, Microsoft confirmed its intention to acquire TikTok’s operation in the US

This statement was made public two days after several media outlets revealed Microsoft’s interest in acquiring TikTok. After reports of the acquisition surfaced, President Donald Trump expressed his opposition to the acquisition.

ByteDance is reportedly in talks with Microsoft to sell TikTok in Canada, the US, New Zealand, and Australia. It is believed that the American company would offer other investors the chance to take part in this acquisition.

According to Microsoft, after the company takes over TikTok, users will still have access to the structure they are currently using and love, all while ensured of privacy, safety, and security.

The company went further to promise transparency oversight by these countries’ governments.

On Sunday, Reuters reported Trump gave ByteDance 45 days to seal the deal with Microsoft. The American tech giant said after acquiring the app, data of US TikTok users would be stored locally and those stored in other locations would be moved and then removed.

TikTok microsoft acquisition trump 45 days
On Sunday, Reuters reported Trump gave ByteDance 45 days to seal the deal with Microsoft

This acquisition is projected to complicate Microsoft’s relationship with Facebook, which considers ByteDance a competitor. In 2007, Microsoft invested in Facebook and the two companies have worked on some projects together.

In June, after the company axed Mixer, its game streaming service, it encourages the platform’s users to switch to that of Facebook.

Earlier this year, Facebook announced the death of Lasso, its own take on TikTok, which allows users to record video and add music.

TikTok was first introduced in 2017 outside mainland China. A few months later, the company announced the acquisition of Musical.ly, a quite popular social media app among teens at a reported price of $800 million.

ByteDance acquire Musical.y
ByteDance acquired Musical.ly, a popular social media app among teens at a reported price of $800 million

Some reports revealed that Facebook also wanted to acquire Musical.ly in 2016.

CNBC said in October last year that ByteDance had moved to the office once used by WhatsApp and started hiring way employees from Facebook.

>>> After TikTok And PUBG Mobile, Facebook Could Be The Next Big App Banned In India

Comments

Sort by Newest | Popular

Next Story

Read more

Paytm Pulled From Play Store, Founder Thinks Google Is Trying To Promote Google Pay

ICT News- Sep 21, 2020

Paytm Pulled From Play Store, Founder Thinks Google Is Trying To Promote Google Pay

On Friday, Google pulled Paytm, India’s popular financial services app from its app store citing violations of its gambling policies

Inside A Click Farm With Hundreds Of Phones - Where Million-View YouTube Videos Are Born

Features- Sep 21, 2020

Inside A Click Farm With Hundreds Of Phones - Where Million-View YouTube Videos Are Born

YouTubers can make a lot of money if they get many views and subscribers. But instead of investing in quality, some cheat to get there through click farm.

iPhone 12 Leaked Video Revealed Secret Magnetic Wireless Charger Apple Is Developing

ICT News- Sep 21, 2020

iPhone 12 Leaked Video Revealed Secret Magnetic Wireless Charger Apple Is Developing

AirPower might be hibernating, or dead, but Apple doesn’t give up on its effort to make a wireless charger for iPhone 12

LG Styler Review: Offer You Crease-Free And Fresh Clothes But For A Premium Price

Gadgets- Sep 21, 2020

LG Styler Review: Offer You Crease-Free And Fresh Clothes But For A Premium Price

LG Styler review is recently sought after as these smart steam closets are getting popular in South Korea and the U.S

POCO X3 India Launch Date Revealed, To Come With Even Bigger Battery

Mobile- Sep 21, 2020

POCO X3 India Launch Date Revealed, To Come With Even Bigger Battery

The POCO X3 will be announced in India on September 22nd with several changes compared to the global version.

Lawmaker Watched P.o.r.nographic Content On His Phone During Parliament Session

Features- Sep 21, 2020

Lawmaker Watched P.o.r.nographic Content On His Phone During Parliament Session

The incident was recorded by the reporters who were in the gallery of the House while the man was scrolling through the p.o.r.nographic photos.