Microsoft has failed in its effort to acquire the U.S. operations of popular social media app TikTok, the computer giant said on Sunday.
Microsoft was an early contender to purchase part of TikTok from its Chinese owner, ByteDance, but talks have evidently led nowhere.
The announcement comes just two days before President Trump’s deadline for ByteDance to sell its American assets or see the app banned in the U.S.
In a statement on its website, Microsoft said: “ByteDance let us know today they would not be selling TikTok’s U.S. operations to Microsoft.
“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 added: “We look forward to seeing how the service evolves in these important areas.”
Attention is now turning to Oracle, which is reportedly also in talks with ByteDance over the sale of TikTok’s U.S. operations. Digital Trends has reached out to the software giant to find out more and we will update this piece when we hear back.
This story is developing and will be updated …