TikTok has signed a deal to form a new U.S. joint venture controlled by mostly American investors that include Oracle Corporation, Silver Lake and MGX, according to an internal memo sent by TikTok CEO Shou Chew and obtained by ABC News.

TikTok has signed a deal to sell its U.S. business to three American investors — Oracle, Silver Lake and MGX — ensuring the popular social video platform can continue operating in the United States

TikTok is nearly to the finish line to become legal in the U.S. ByteDance and TikTok have signed “binding agreements” with three managing investors: Oracle Corporation, Silver Lake and Abu Dhabi-based MGX,

TikTok and Chinese owner ByteDance signed agreements with Oracle and two other investors to form a new U.S. joint venture. Shares of the tech firm jumped on the news. CEO Shou Zi Chew told employees in a memo viewed by Barron’s that the joint venture will be 50% held by a consortium of new investors,

TikTok has reached a deal to sell parts of its US business. Oracle, Silver Lake, and MGX are part of the consortium of new investors.

TikTok CEO Shou Chew told employees that owner ByteDance had signed binding agreements to create a new joint venture for the app in the United States.

TikTok is set to stay available to users in the U.S. The app signed a deal with investors including Oracle, private equity firm Silver Lake, and an investment company backed by the United Arab Emirates.

In a memo sent to employees on Thursday, TikTok chief Shou Zi Chew said ByteDance’s US entities would continue running its main moneymaking business lines in the country including “ecommerce, advertising and marketing”.