Microsoft officially confirmed the report on Sunday, two days after initial rumors that it might be interested in acquiring TikTok’s U.S. business. The deal with Byte Dance, the parent company of TikTok, will be completed by September 15, the company said in an official statement. This possible deal could include TikTok’s operations in the Us, Canada, Australia and New Zealand.
On Friday, Mr. Trump announced plans to ban the app in the United States, but the plan was shelved for 45 days after talking to Microsoft’s CEO.
TikTok is valued at about $50 billion and could be Microsoft’s biggest acquisition to date, according tomedia reports. However, as the chart below shows, the software giant is no stranger to billions of dollars in acquisitions.
Over the past 20 years, the company has made acquisitions in a number of areas, including hardware (Nokia), video game developer Mojang and LinkedIn.