US EditionExclusive: ByteDance in Talks to Sell Gaming Unit Moonton for More than $6 Billion, Sources Say
ByteDance plans to sell Shanghai-based Moonton for $6–7 billion as part of its gaming business restructure; Mobile Legends has over 110 million monthly users, sources say.
- ByteDance is in advanced talks to sell Shanghai Moonton Technology to Savvy Games Group in a deal valued between US$6 billion and US$7 billion, with a possible close this quarter, Reuters reports.
- After a review, ByteDance decided to restructure its gaming business as its valuation soared in the past year and it launched a share buyback at valuation of more than US$330 billion.
- The sale would join other recent industry deals as Moonton, established in 2014, with offices across multiple regions, reports over 1.5 billion installations of Mobile Legends: Bang Bang.
- If completed, the sale would mark ByteDance's major retreat from online games, while Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, pursues growth through acquisitions.
- Market consolidation is evident in recent multibillion-dollar acquisitions, with Scopely completing $3.5 billion and $4.9 billion deals this year; ByteDance, Moonton and Savvy Games did not immediately respond to requests for comment.
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ByteDance in talks to sell gaming unit Moonton in $6B–$7B deal to Saudi Arabia’s Savvy Games - Tech Startups
ByteDance is edging closer to a landmark deal that could redraw its gaming ambitions. The TikTok owner is in advanced talks to sell Shanghai Moonton Technology, the studio behind the hit mobile title Mobile Legends: Bang Bang, to Saudi Arabia’s […] The post ByteDance in talks to sell gaming unit Moonton in $6B–$7B deal to Saudi Arabia’s Savvy Games first appeared on Tech Startups.
Times of India
The Economic TimesByteDance in talks to sell gaming unit Moonton for more than $6 billion
ByteDance is in advanced talks to sell Shanghai Moonton Technology to Saudi Arabia's Savvy Games Group in a deal valued between $6 billion and $7 billion, sources said. A deal could be sealed as soon as this quarter, one source said. The companies reached initial agreement on broad deal terms.
Exclusive: ByteDance in talks to sell gaming unit Moonton for more than $6 billion, sources say
ByteDance is in advanced talks to sell Shanghai Moonton Technology, the studio behind the popular mobile game Mobile Legends: Bang Bang, to Saudi Arabia's Savvy Games Group in a deal valued at between $6 billion and $7 billion, sources said.
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