A couple of days ago, rumors started to emerge that Microsoft might be buying part of social network TikTok. As it turns out, those rumors are true, Microsoft confirmed today.
Specifically, the Redmond company confirmed its intentions to buy the U.S. operations of TikTok, and could also include Canada, Australia, and New Zealand. Microsoft CEO Satya Nadella and U.S. President Donald Trump seem to be working together on this, as Microsoft's statement said this happened after a conversation between the two.
TikTok is currently owned by Chinese company ByteDance. Due to Trump's concerns about security when it comes to Chinese companies, the idea is that after Microsoft buys TikTok's U.S. operations, all U.S. users' data will remain in the country, rather than possibly being sent back to China. Microsoft also committed to the plan that if this acquisition happens, it will return U.S. users' data to the U.S.
Naturally, no formal deals have been made, except for a notification to the Committee of Foreign Investment in the United States. However, the two companies, at this time, are planning to go through with the acquisition. Microsoft also said it may involve other companies in the purchase as minority shareholders.