New Delhi: Ending speculations, Microsoft confirmed that it is in talks with the Chinese App TikTok to acquire operations in the US, Canada, Australia, and New Zealand markets. In a blog post, the company has given details about the ongoing talks with Bytedance the parent company of TikTok. The step is being taken even when the US President has announced plans to ban TikTok in the US due to fears of surveillance by China using the App. But according to the blog post, Microsoft CEO Satya Nadella and President Donald J. Trump have discussed the issue.

‘Microsoft fully appreciates the importance of addressing the President’s concerns. It 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,’ said the official Microsoft blog.

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Here are ten things to know about the deal

  • Microsoft will complete discussions with TikTok by no later than September 15, 2020.

  • The talks with ByteDance will build upon a notification made by Microsoft and ByteDance to the Committee on Foreign Investment in the United States (CFIUS).

  • TikTok will be subjected to a complete security review and providing proper economic benefits to the United States, including the United States Treasury.

  • Microsoft will also continue its dialogue with the United States Government, including with the President.

  • With the deal, Microsoft is looking at owning and operating TikTok in the United States, Canada, Australia, and New Zealand.

  • Microsoft may invite other American investors to participate on a minority basis in this purchase.

  • Microsoft has also said that it will ‘build on the experience TikTok users currently love while adding world-class security, privacy, and digital safety protections.

  • The tech giant also said in its blog that 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.’

  • Microsoft would ensure that all private data of TikTok’s American users are transferred to and remains in the United States.

  • After the transfer of operations, Microsoft would ensure that data of American users is deleted from servers outside the country after it is transferred.