Microsoft says it will continue discussions to buy TikTok's operations in the U.S.

On Sunday, August 2, Microsoft acknowledged publicly and officially that Microsoft is in discussions regarding purchasing the U.S. operations of the TikTok video platform. Microsoft officials said via a blog post that Microsoft CEO Satya Nadella and President Donald Trump had met and Microsoft was "prepared to continue discussions to explore a purchase of TikTok in the United States."

Microsoft "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," the blog post said.

Microsoft is discussing both owning and operating TikTok in the U.S., Canada, Australia and New Zealand, officials said. Microsoft may invite other investors to take a minority share in the purchase.

Microsoft plans to continue discussions with TikTok's parent company, ByteDance "ina matter of weeks" and will complete the discussions no later than September 15, 2020, officials said. During that time, Microsoft plans to continue discussions with the U.S. government, including Trump, the blog post said.

Microsoft would insure that it adds "world-class security, privacy and digital safety protections," the blog post said. Microsoft also would ensure that all private data from TikTok's U.S. users will be transferred to and remain in the U.S. If any of that data is currently stored or backed up outside the U.S., Microsoft would ensure it is deleted from servers outside the country after it is transferred, the blog post said.