Deal For TikTok’s U.S. Operations Finalized By U.S. And China

ByAntonio Pequeño IV,

Forbes Staff.

The U.S. and China finalized a deal Thursday that will give a group of Trump-approved investors including Oracle control of TikTok’s U.S. unit, according to multiple outlets, keeping the app in the U.S. indefinitely following its delayed ban.

Tech giant Oracle, private equity firm Silver Lake and Abu Dhabi-based investment firm MGX will be the managing investors of the newly created U.S. business, known as the TikTok USDS Joint Venture.

Each of the three investors hold a 15% stake in the company, with Oracle managing TikTok’s U.S. user data.