Deal with Oracle, Silver Lake and MGX, confirmed in internal memo, will allow app to continue operating in US
TikTok has signed a deal to sell its US business to three American investors – Oracle, Silver Lake and MGX – ensuring the popular social video platform can continue operating in the United States.
The deal is expected to close on 22 January, according to an internal memo seen by he Associated Press and Reuters. The TikTok chief executive officer, Shou Zi Chew, said in the memo that ByteDance and TikTok have signed binding agreements with the three investors.
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