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Microsoft not acquiring TikTok after ByteDance rejects offer

Microsoft says it’s not acquiring TikTok - Appy Pie

Microsoft has confirmed that it’s not acquiring parts of TikTok’s operations. The announcement came after Microsoft’s bid was rejected by TikTok owner ByteDance.

After weeks of talks and back and forth involving the Trump administration, Microsoft has ultimately failed in its attempts to acquire TikTok.

Microsoft has last month confirmed that it was pursuing a deal to buy TikTok’s operations in the US, Australia, Canada, and New Zealand.

The company said, “ByteDance informed us that they would not be selling TikTok’s US operations to Microsoft.” Microsoft also said, “Though we are confident our proposal would have been good for TikTok’s users while protecting national security interests. To do this, we would have made significant changes to ensure the service met the highest standards for security, privacy, online safety, and combatting disinformation, and we made these principles clear in our August statement.”

The company further added, “We look forward to seeing how the service evolves in these important areas.”

Oracle is now the sole remaining bidder ahead of the looming deadline for the Chinese-owned video app TikTok to sell or shut down its US operations.

Any probable deal with Oracle isn’t without complications, though.The Oracle bid would next need approval from the White House and Committee on Foreign Investment in the United States, asper reports, with both parties under the belief it would meet US data security concerns.

TikTok has been at the center of diplomatic issues between the US and China. President Donald Trump has announced a deadline for the US to stop doing business with TikTok’s Chinese parent company ByteDance — effectively forcing ByteDance to sell the app to a US company.

President Trump had initially threatened a September 15th deadline for a TikTok sale, before setting November 12th as the deadline, with the threat of a potential ban.

Trump claims that TikTok is likely being used by China to track the locations of federal employees of the country. As per the US administration, the app also created dossiers on people for blackmail and even tries to conduct corporate espionage.

TikTok has even sued the Trump administration over itsalleged claims that the app was hampering the defense and security of the US by sharing the information of users with China.

It’s not exactly clear what will be the future of TikTok in the US now that Microsoft has been unsuccessful in its bid.

Oracle seems to be the most likely candidate, and it may serve as more of a cloud services provider rather than a parent company of Tiktok with direct control. Nothing has been simple with this ongoing TikTok story. It’s likely going end up seeing some more twists and turns in the coming days.