- The deal will mark ByteDance’s major move away from online gaming following a 2023 restructuring.
- ByteDance originally acquired Moonton through Nuverse in 2021 for approximately $4 billion.
- Mobile Legends: Bang Bang has surpassed 1.5 billion installs and attracted more than 110 million monthly active users.
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Chinese tech giant ByteDance is in advanced talks to sell Mobile Legends: Bang Bang developer Moonton to Savvy Games Group for between $6 billion and $7 billion.
As reported reutersA deal could be finalized as soon as this quarter, according to a source familiar with the matter, with a second source saying the two companies have reached a preliminary agreement on broad terms.
It would also represent another significant withdrawal from gaming by ByteDance, following the decision for 2023 to restructure the division following an internal review.
M&A expansion
The TikTok owner acquired Moonton in 2021 through its gaming arm Nuverse in a deal valuing the studio at about $4 billion.
Founded in 2014, Moonton works in development, publishing and e-sports, has over 2,000 employees and has offices across Southeast Asia, Latin America and China.
Its flagship title, Mobile Legends: Bang Bang, has surpassed 1.5 billion installs, reaches over 110 million monthly active users and ranks among the top 10 most played games in over 80 countries.
Savvy Games Group, on the other hand, is a games and esports company that was founded in 2021 and is owned by Saudi Arabia’s Public Investment Fund (PIF) as part of the country’s effort to make the Kingdom a global games hub.
It purchased Scopely for $4.9 billion in 2023, and Scopely later acquired Niantic’s games division for $3.5 billion. PIF is also set to complete its $55 billion acquisition of EA later this year.