TikTok has agreed to sell its U.S. operations to a new joint venture led by American investors, resolving a prolonged national security dispute, Axios reports.

* Oracle, Silver Lake, and Abu Dhabi–based MGX will collectively own 45% of the U.S. entity.

* Affiliates of existing ByteDance investors will hold nearly one-third of the company.

* ByteDance will retain just under 20% ownership.

* The agreement is expected to close on January 22.

* The sale follows years of U.S. government pressure over national security concerns related to ByteDance’s ownership.