TikTok signed a deal selling its U.S. assets to three American investors — Oracle, Silver Lake, and MGX.
The three U.S. companies will each hold 15% of the assets, while the rest will remain with affiliates of existing investors in TikTok’s parent company, ByteDance, according to corporate officials on Thursday, The Hill news outlet reported.
ByteDance will keep 19.9% of its ownership, but U.S. user data will be stored under a system run by Oracle.
