The parent company of TikTok has finalized a deal to divest a majority stake in its U.S. operations to non-Chinese investors, allowing the company to continue to operate in America and finally escape the threat of a looming ban.
Under the deal, tech giant Oracle, Emirati state-backed investment firm MGX, and U.S. investment firm Silver Lake will each possess 15 percent of a new joint venture. Other backers include the investment firm of Dell Technologies founder Michael Dell.
