Savvy Games aquires Moonton from Bytedance for USD 6+ billion

After 3 years of rumors, Bytedance officially sells Moonton to a Saudi-based company, Savvy Games.

Moonton x Savvy Games

New owner for the MLBB franchise

China-based ByteDance has finalized an agreement to divest Shanghai Moonton Technology, the developer behind the popular mobile title Mobile Legends: Bang Bang, to a gaming firm based in Riyadh and backed by Saudi Arabia’s Public Investment Fund, according to a joint statement from the companies on Friday.

The terms of the transaction were not publicly disclosed, though a source familiar with the matter indicated that the deal places Moonton’s value at over USD 6 billion.

In February, Reuters reported that ByteDance was in advanced negotiations to sell the unit to Savvy Games Group, with an estimated valuation falling between USD 6 billion and USD 7 billion.

Mobile Legends interface

If these numbers are accurate, it means Bytedance achieved its goal of selling the gaming company for more than USD 4 billion (the amount it bought Moonton in 2021).

Savvy, which is controlled by Saudi Arabia’s sovereign wealth fund, describes itself as a global entity focused on video games and e-sports, pursuing expansion through acquisitions, investments, and commercial projects on its website.

Video game sector sees continued consolidation

The sale of Moonton reflects a broader trend of consolidation within the video game sector, as major players compete for intellectual property rights, seek to expand distribution channels, and aim to grow their presence in international markets.

For ByteDance—the parent company of TikTok—the move comes as it intensifies its focus on artificial intelligence, working on proprietary chip development and rolling out more advanced large language models to compete for users in China’s increasingly saturated AI landscape.

Retains the same management

In an internal memo reviewed by Reuters, Moonton CEO Zhang Yunfan stated that the company’s management structure would remain in place following the transaction, and that he would continue to lead the Shanghai-based studio.

Savvy CEO Brian Ward said the acquisition would help the firm “further strengthen our leadership in mobile games, deepen our talent pool, expand our global footprint, and enhance our reach across esports.”

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Source: Reuters