Microsoft_Acquisitions_IBT Price of the largest companies acquired by Microsoft (as of Aug. 2, 2020) Photo: Statista / IBT

Two days after the first rumors of Microsoft’s possible interest in acquiring TikTok’s U.S. operations had emerged, the Redmond-based company officially confirmed such reports on Sunday. “Following a conversation between Microsoft CEO Satya Nadella and President Donald J. Trump, Microsoft is prepared to continue discussions to explore a purchase of TikTok in the United States,” the company wrote in an official statement, adding that the discussions with TikTok’s parent company ByteDance would be completed before September 15.

A possible deal would likely include TikTok’s operations in the United States, Canada, Australia and New Zealand and prevent a possible shutdown of the immensely popular social media app over national security concerns. The app’s meteoric rise over the past two years has been shrouded in controversy over data security and its alleged ties to the Chinese government. On Friday, President Trump had announced his plans to ban the app from the United States, only to put that plan on hold for 45 days following a conversation with Microsoft CEO Satya Nadella. In its statement, Microsoft vowed that it would “build on the experience TikTok users currently love, while adding world-class security, privacy, and digital safety protections.”

Reportedly valued between $30 and $50 billion, TikTok could become Microsoft’s biggest acquisition to date. The software giant is no stranger to billion-dollar acquisitions, however, as the following chart shows. Over the past two decades, the company has made acquisitions in various fields ranging from hardware (Nokia) to video games (Minecraft-maker Mojang) and social media (LinkedIn).