Microsoft Corp confirmed the intent to purchase TikTok service in the US, Canada, Australia, and New Zealand, which will lead to tech giant owning and operating TikTok in these markets. The confirmation comes after Microsoft CEO Satya Nadella held talks with US President Donald Trump as the latter raised concern over the security arising out of the use of China-based social media app.
Microsoft said in a statement that the company 'fully appreciates' the importance of addressing the concerns, adding that it is committed to acquiring TikTok 'subject to a complete security review'. It also emphasised on providing 'proper economic benefits' to the US, including the Department of Treasury.
All private data of TikTok US users will be transferred to the United States and will remain there. It would also ensure that the data currently stored or backed-up outside the United States are deleted from servers outside the country after it is transferred, said Microsoft.