Microsoft confirmed for the first time it is seeking to acquire the U.S. operations of short-video app TikTok from China-based parent company ByteDance Ltd., saying it will go ahead with the plan, despite reservations from U.S. President Donald Trump.

Following a conversation between Microsoft CEO Satya Nadella and President Trump, Microsoft is prepared to continue discussions to explore the purchase of TikTok activities in the U.S., as well as in Canada, Australia, and New Zealand, the U.S. software giant said in a statement on Sunday.

“Microsoft fully appreciates the importance of addressing the President’s concerns. It is committed to acquiring TikTok subject to a complete security review and providing proper economic benefits to the United States, including the United States Treasury,” the statement said.

Microsoft said it will move quickly to pursue discussions with ByteDance that are expected to conclude by September 15. It said it would also continue discussions with the U.S. government and President Trump during the process.

The Microsoft announcement came after Trump earlier said it would ban TikTok from the U.S. “As far as TikTok is concerned, we’re banning them from the United States,” the president told reporters Friday night. When asked when it would happen, he said: “Soon, immediately. I mean essentially immediately.”

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Contact reporter Mo Yelin (yelinmo@caixin.com)

Related: Trump Says He Will Ban TikTok From Operating in U.S.