The China-based TikTok, which has got a 2.3 billion global download figure in its kitty, may well be having a new owner in the US. The US operations of the video-sharing app are going to be acquired by the technology giant Microsoft for a whopping deal.

As reported by the Wall Street Journal, Satya Nadella is in advanced talks to acquire the US operations of TikTok. Microsoft is said to be ready to shell out billions of dollars in order to settle the deal.

Both Microsoft and Bytedance (which owns TikTok) might clinch the deal by August 3.

On Friday, Donald Trump created a flutter by talking of a ban on TikTok. This comes days after India banned the video-sharing app. If data privacy and surveillance issues are sorted out once Microsoft takes over, TikTok might make a re-entry into India in a new avatar.