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TikTok signs deal to avoid US ban as Oracle, Silver Lake and MGX become shareholders

Teodora Helerman
By Teodora Helerman
TikTok signs deal to avoid US ban as Oracle, Silver Lake and MGX become shareholders
TikTok signs deal to avoid US ban as Oracle, Silver Lake and MGX become shareholders

A new TikTok US joint venture addresses data security and national security concerns

TikTok will continue operating in the United States after its parent company, ByteDance, agreed to spin off its US operations into a new joint venture designed to protect American user data and national security, according to Euronews.

The video-sharing platform signed binding agreements with major investors Oracle, Silver Lake and UAE-based investment firm MGX to establish TikTok US.

Read full article here: turnovernews.com

Read also: JPMorgan CEO warns Europe’s weakness could impact the U.S. economy: “We need a long-term strategy to help them become strong”

Photo: NBC News

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Teodora Helerman
Teodora Helerman
Online editor, content writer, blogger, and social media specialist, with experience in writing and publishing news, creating original content, and adapting materials for various digital platforms.
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