Who acquired Moonton from ByteDance?

Savvy Games Group acquired Moonton from ByteDance for $6 billion.

What is Moonton famous for?

Moonton is known for its multiplayer mobile games, notably Mobile Legends: Bang Bang, which has seen over 1.5 billion installations.

What is the significance of Savvy Games Group's acquisition of Moonton?

Savvy Games Group's acquisition of Moonton is part of Saudi Arabia's Public Investment Fund's strategy to become a global leader in video games and esports.

Home / Business and Economy / Saudi Fund Buys Mobile Legends Maker

Saudi Fund Buys Mobile Legends Maker

20 Mar

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Summary

ByteDance sold Moonton to Savvy Games Group for $6 billion.
Moonton's Mobile Legends: Bang Bang has over 1.5 billion installs.
Savvy Games Group is a subsidiary of Saudi Arabia's PIF.

ByteDance Ltd. is divesting its gaming studio Moonton, with Saudi-backed Savvy Games Group set to acquire the company for $6 billion. This significant transaction, expected to conclude soon, marks ByteDance's strategic shift towards focusing on generative AI technologies. The sale values Moonton at a substantial $6 billion, an increase from ByteDance's initial $4 billion acquisition in 2021.

Moonton, headquartered in Beijing, is renowned for its multiplayer mobile games, especially Mobile Legends: Bang Bang, which boasts over 1.5 billion installations. The current management and employees are expected to remain with the company, with incentive programs planned. Savvy Games Group, a key entity within Saudi Arabia's Public Investment Fund, is aggressively expanding its footprint in the global video game and esports market. This acquisition aligns with Saudi Arabia's ambition to become a world leader in the gaming industry.

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