ByteDance, the China-based parent company of TikTok, has finalized a long-anticipated agreement to restructure the app’s U.S. operations through a new joint venture that will be majority owned by American and global investors.

TikTok’s U.S. business may be about to take off. The scheduled completion this week of TikTok’s sale of its U.S. data security arm to a joint venture ends years of uncertainty about its future in the U.

The United States and China have shaken hands on a deal to divest the short-form video content app TikTok’s U.S. business to a consortium of mostly American investors led by Oracle (ORCL) and Silverla