TIKTOK SIGNS AGREEMENT TO CREATE NEW US JOINT VENTURE, MEMO SAYS

Summary from the TLDR newsletter

TikTok's US operations will soon be housed in a new joint venture named TikTok USDS Joint Venture LLC. The company has signed agreements with Oracle, Silver Lake, and Abu Dhabi-based MGX. The deal's closing date is on January 22. Oracle will serve as the 'trusted security partner' in charge of auditing and validating that TikTok complies with agreed-upon national security terms.