ByteDance may sell Mobile Legends: Bang Bang studio Moonton for over USD6 billion
ByteDance is reportedly in advanced talks to sell Shanghai Moonton Technology, the studio behind hit mobile game Mobile Legends: Bang Bang, to Saudi Arabia’s Savvy Games Group for between USD6 billion and USD7 billion (~RM23.4-RM27.3 billion).
According to Reuters, a deal could be finalised as early as this quarter. Sources familiar with the matter say both parties have already reached an initial agreement on broad terms, although the companies have yet to officially comment.
ByteDance, best known as the parent company of TikTok, acquired Moonton in 2021 via its gaming unit Nuverse in a deal valued at around USD4 billion. At the time, it was part of ByteDance’s push to expand aggressively into the global gaming market. However, in 2023, ByteDance announced that it was aiming to restructure its gaming business. Selling Moonton would mark one of its biggest pullbacks from the gaming sector.
Founded in 2014, Shanghai Moonton Technology is best known for Mobile Legends: Bang Bang, one of the most popular mobile MOBAs globally. According to Moonton, MLBB has been installed over 1.5 billion times, with over 110 million monthly active users. The game is consistently ranked among the top 10 most played games in over 80 countries, with Moonton having over 2,000 employees worldwide across Southeast Asia, China and Latin America.
As for the potential buyer, Savvy Games Group is owned by Saudi Arabia’s Public Investment Fund and has been aggressively expanding its global gaming footprint.
Recent acquisitions include Scopely for USD4.9 billion in 2023, with Scopely going on to acquire Pokemon Go maker Niantic’s games division for USD3.5 billion. Acquiring Moonton would significantly strengthen Savvy’s position in mobile gaming and esports, especially in Southeast Asia where Mobile Legends dominates.
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