Following discussions first reported on earlier this year, ByteDance has agreed to sell its games unit Moonton to Savvy Games Group for $6 billion. Moonton is known for mobile titles popular in Asia like Mobile Legends: Bang Bang, which has been downloaded 1.5 billion times. The transaction is set to be finalized in the "near future," according to an internal memo from Moonton's CEO seen by Bloomberg.
ByteDance has been winding down its gaming arm and shopping Moonton since 2023, just two years after it first acquired the developer. Around that same period, the TikTok parent was shuttering its Nuverse gaming arm, which published notable titles like Marvel Snap and Ragnarok X: Next Generation. The company has since shifted its focus to AI, competing with Chinese rivals to develop chatbots and foundational models.
Savvy Games, which is owned by Saudi Arabia's Public Investment Fund (PIF), has been going in the opposite direction. Last year the company (via its subsidiary Scopely) acquired Pokémon Go developer Niantic for $3.5 billion. PIF was also among the key investors that purchased Electronic Arts in a blockbuster $55 billion deal l
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