Microsoft confirms talks to buy TikTok in U.S., aims to finish deal by Sept. 15

Seems like Microsoft is looking to move ahead with the acquisition of TikTok US operations despite the possibility of TikTok being banned in US. 

Looking at this move, Microsoft looks to enter the consumer industry where there are already 80 million TikTok subscribers in US alone. However, the track record for Microsoft in consumer related activities were not that fantastic (Skype, Bing, Groove Music, Windows Media Center and probably a couple more). Its core strength is in its Office suite and Cloud services and they are probably trying to diversify towards consumer services since Apple is breaking all records in its consumer front. 

A man holding a phone walks past a sign of Chinese company ByteDance’s app TikTok, known locally as Douyin, at the International Artificial Products Expo in Hangzhou, Zhejiang province, China October 18, 2019.

Reuters

Microsoft on Sunday confirmed that it has held talks with Chinese technology company ByteDance to acquire its trendy social app TikTok in the U.S. Microsoft said in a statement that it will keep working with the U.S. government on a deal and that it intends to conclude talks by September 15.

If it were to complete the deal, Microsoft could simultaneously resolve a recent controversy in Washington and gain power in consumer technology. 

Source: CNBC

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