Savvy Games Group Acquires Moonton for $6 Billion

Saudi Arabia's Savvy Games Group has agreed to acquire Moonton, the Chinese gaming studio behind the hit mobile title Mobile Legends: Bang Bang, from ByteDance in a deal valued at approximately $6 billion. The transaction, announced through internal communications and statements from both companies, is expected to close in the coming months, pending regulatory approvals.

ByteDance, the Beijing-based parent company of TikTok, originally purchased Moonton in 2021 for about $4 billion as part of its expansion into the video game sector. However, the tech giant has since scaled back its gaming operations to prioritize investments in artificial intelligence. This shift included restructuring its Nuverse gaming division, job reductions, and the sale of other studios, such as three units transferred to Tencent and China Ruyi Holdings in 2024. Moonton, founded in 2014 and headquartered in Shanghai, will become a wholly owned subsidiary of Savvy upon completion of the deal. The studio's management team, led by Chief Executive Officer Zhang Yunfan, will remain in place, and employees will receive incentives, including accelerated vesting of long-term rewards.