Mobile Legends Developer Moonton to be Sold for $7 Billion to Saudi-Based Company
ByteDance, the parent company of TikTok, is in advanced talks to sell its gaming subsidiary, Moonton Technology, to Saudi Arabia’s Savvy Games Group. Moonton is best known as the developer of the incredibly popular mobile MOBA, Mobile Legends: Bang Bang (MLBB). If the deal goes through, it would mark one of the largest acquisitions in mobile gaming history, with a price tag estimated between $6 billion and $7 billion. Mobile Legends Developer Moonton to be Sold for Around $7 billion—Check Details As per the report from Reuters , it indicates that ByteDance and Savvy Games Group have already reached an initial agreement on the broad terms. The deal is moving quickly and could be finalized as early as the end of this quarter. This sale represents a major strategic shift for ByteDance. The company acquired Moonton in 2021 to compete with Tencent in the gaming space. However, ByteDance is now reportedly retreating from the video game market to focus on its core businesses, such as short...