The company has announced that Ye has agreed to purchase Parler.
The star's social media accounts were locked last week after he made anti-Semitic comments.
Parler is used mostly by US conservatives and is described as a "free speech" alternative.
Chief executive George Farmer said that he wouldn't have to fear being removed from social media again.
The terms of the deal were not disclosed.
The parties intend to enter into a definitive purchase agreement and close during the fourth quarter of 2022.
Technical support from the company will be included in the deal.
After an explosion in growth after the US elections in 2020, Parler has been struggling to stay relevant.
According to Sensor Tower, the app was downloaded 90,000 times in a single month.
Parler was asked for more information by the news organization.
In a world where conservative opinions are considered to be controversial, we have to make sure we have the right to express ourselves.
Ye's account was suspended after he accused P.Diddy of being controlled by Jews.
He got a second disbarment after re-joining the social networking site and saying he would go to death con three on Jewish people.
Parler says it has 15 million users.
It is one of a number of apps that target conservative users.
In September, Parlement Technologies said it had raised $16 million in funding, taking the total to $56 million.
Politicians and broadcasters have accounts.
Far-right groups in the US have been thrown off other platforms due to the app.
On January 6, 2021, after the storming of the US Capitol buildings, Apple's app stores and Amazon's web-hosting service suspended their platforms.
Videos and pictures of rioters breaking into the Capitol were posted on the internet.
The platform was brought back to the app stores after a change in leadership.
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