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.

Trump agreed to give ByteDance 45 days to cut a deal with Microsoft over TikTok, Reuters reported on Sunday, citing unnamed sources. Microsoft said it would make sure that data on TikTok users in the U.S. would be located in the country and that data stored elsewhere would be deleted after it has been moved. A TikTok spokesperson told CNBC on Sunday that data on TikTok users in the U.S. is stored in the U.S.

"ByteDance introduced TikTok outside mainland China in 2017, following the launch of a similar app called Douyin. Months later ByteDance acquired [Musical.ly](http://Musical.ly) , a separate social-media app that had gained traction with teens, paying a reported $800 million. Facebook had attempted to buy [Musical.ly](http://Musical.ly) in 2016, BuzzFeed News reported. CNBC reported in October that TikTok had moved into Silicon Valley office space that was once used by Facebook-owned WhatsApp and had started hiring Facebook employees. Facebook declined to comment"

MICROSOFT DEAL WITH TIKTOK

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