The yearslong saga over the future of TikTok’s American operations has finally reached a conclusion. The social media platform said on Jan. 23 that its US arm has been bought by a consortium led by Oracle Corp.

In a press release, TikTok said the new U.S. joint venture "will operate under defined safeguards that protect national security through comprehensive data protections, algorithm security, content moderation,

TikTok finalized a deal that will spin-off its U.S. operations with the sign off of the Trump administration and the Chinese government as the social media app faced a U.S. ban.

TikTok has finalised a deal to allow its American business to continue, by creating a new US entity separate from its global operations, which are run out of China. Under the deal

TikTok has finalized a deal to create a new U.S.-based version of its app, forming a joint venture with American investors to avoid a potential nationwide ban.

The social video platform company signed agreements with major investors including Oracle, Silver Lake and MGX.

TikTok's Chinese owner, ByteDance, on Thursday said it has finalized a deal to establish a majority American-owned joint venture that will secure U.S. data, to avoid a U.S. ban on the short video app used by over 200 million Americans.

The U.S. and China have finalized a deal on TikTok that would hand control of the company's U.S. operations to a group of investors, according to a White House official. The deal comes just ahead of a deadline the Trump administration had extended several times.