New Delhi, Jan. 23 -- TikTok finalised a deal to spin off its United States operations into a new joint venture, ensuring the video application remains accessible to its 200 million American users. The move concludes a multi-year legal and political dispute regarding national security and data privacy. According to a press release, the new entity includes significant equity stakes from a consortium of global investors and the original parent company.

The agreement specifies that tech giant Oracle, UAE-based MGX, and investment firm Silver Lake each hold a 15 per cent stake in the new venture. ByteDance, the Chinese parent company, retains a 19.9 per cent share.

This restructuring follows a 2024 law passed by Congress with bipartisan sup...