Hope for ByteDance as Microsoft to Acquire US arm of TikTok

A new acquisition for ByteDance is on its way. As per recent news Microsoft is ongoing its talks with Byte Dance aiming to acquire the US arm of the video-sharing app TikTok.  The company further informed that the matter was brought into the notice of the US President Donald Trump, relating to concerns surrounding the security and censorship of TikTok.

Both the giants are in talks and this may result in Microsoft acquiring and owning TikTok’s operating service in the US, Canada, Australia, and New Zealand. The company further added that the decision will finally reach its conclusion by September 15. Details regarding the finances are yet to be disclosed.

TikTok had to face concerns from the US, alleging that the video-sharing platform is involved in the process of data sharing for the Chinese Government. The app along with other, 105 China made apps had to face a ban from the Indian Government in two different phases. Now with the same line of action President of the United States is also intending to ban TikTok in the US .

Microsoft released a statement saying, “It (Microsoft) 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.”

The company also expressed its desire to invite other US investors to participate in the purchase.