A group of companies – including the cloud services giant Oracle, the venture capital firm Silver Lake and the United Arab Emirates investment company MGX – have entered into a binding agreement to form a new joint venture company in the United States, intended to take over the American part of Tiktok.
Together, the new investors will control 50 percent of Tiktok’s US operations. Oracle, Silver Lake and MGX will have 15 percent each. Current owner Bytedance retains 19.9 percent of the business, while 30.1 percent goes to a number of existing investors in Bytedance.
