Last week it was reported that to potentially avoid getting their app banned in the US, TikTok’s parent company ByteDance was looking to sell off TikTok to a US company and it was reported that Microsoft was potentially interested in them. It turns out the rumors were right as Microsoft has since confirmed that they are in talks.
In a post made on Microsoft’s website, the company said, “The discussions with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS). The two companies have provided notice of their intent to explore a preliminary proposal that would involve 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 may invite other American investors to participate on a minority basis in this purchase.”
This deal is expected to move quickly because US President Donald Trump had previously said that he would be looking to ban the app, but later changed it where he gave them 45 days to agree to a sale, and it looks like Microsoft is one of the companies that could be acquiring them. If the deal is successful, it would allow Microsoft to break into the social media scene where they have almost zero presence in.
These talks are expected to be concluded by the 15th of September, so we should have some kind of official word on whether it is successful or not in the coming weeks.
Microsoft Confirms Their Interest In Acquiring TikTok , original content from Ubergizmo. Read our Copyrights and terms of use.from Ubergizmo https://ift.tt/33jAldQ
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