ByteDance sells Moonton for over $6 billion to Saudi Arabia’s Public Investment Fund
ByteDance announced that it has reached a final agreement with Savvy Games Group, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), to sell its gaming unit Moonton for more than $6 billion. Upon completion of the transaction, Moonton will become a wholly owned subsidiary of Savvy. Moonton is the developer and publisher of the popular MOBA mobile game Mobile Legends: Bang Bang in Southeast Asia. It was acquired by ByteDance in 2021. The deal marks ByteDance’s complete divestment of its core gaming assets, signaling a strategic shift from diversification back to a more focused business direction. [TechNode Reporting]
What's Your Reaction?
Like
0
Dislike
0
Love
0
Funny
0
Wow
0
Sad
0
Angry
0
Comments (0)