ByteDance in Advanced Talks to Sell Moonton for Over $6 Billion
ByteDance is currently engaged in advanced negotiations with Saudi Arabia’s Savvy Games Group regarding the potential sale of its gaming subsidiary, Moonton Technology. According to reports from Reuters, the deal is valued between $6 billion and $7 billion. Moonton is best known as the developer of the highly popular mobile game Mobile Legends: Bang Bang. ByteDance originally acquired the studio in 2021 for an estimated $4 billion as part of its strategic expansion into the global gaming market. If this transaction is successfully completed, it will signify ByteDance’s exit from large-scale in-house development of mid-core and hardcore games. Sources indicate that both parties are moving quickly toward a final agreement, which could potentially be reached as early as the current quarter. However, discussions are still ongoing, and the specific terms of the deal remain subject to change. This significant move highlights shifting strategies within the tech giant's portfolio and underscores the growing interest of Middle Eastern investment entities in the global gaming industry.
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ByteDance in Advanced Talks to Sell Moonton for Over $6 Billion
ByteDance is currently engaged in advanced negotiations with Saudi Arabia’s Savvy Games Group regarding the potential sale of its gaming subsidiary, Moonton Technology. According to reports from Reuters, the deal is valued between $6 billion and $7 billion. Moonton is best known as the developer of the highly popular mobile game Mobile Legends: Bang Bang. ByteDance originally acquired the studio in 2021 for an estimated $4 billion as part of its strategic expansion into the global gaming market. If this transaction is successfully completed, it will signify ByteDance’s exit from large-scale in-house development of mid-core and hardcore games. Sources indicate that both parties are moving quickly toward a final agreement, which could potentially be reached as early as the current quarter. However, discussions are still ongoing, and the specific terms of the deal remain subject to change. This significant move highlights shifting strategies within the tech giant's portfolio and underscores the growing interest of Middle Eastern investment entities in the global gaming industry.
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