Savvy Games has acquired Mobile Legends developer Moonton from TikTok owner ByteDance for $6 billion.
Rumors that ByteDance was in “advanced talks” to sell Moonton Technology to Savvy Games Group for between $6 and $7 billion first began to swirl last week. At the time, sources claimed the deal could close by the end of this quarter, with the companies reportedly “reach[ing] an initial agreement on [the] broad terms of the deal.”
Bloomberg now reports that the deal is valued at around $6 billion and should be finalized in the “near future.” Moonton’s current leadership will remain in place, and incentive programs will be offered for existing employees.
Savvy CEO, Brian Ward, said in a statement that the deal helps develop Savvy’s mobile games division and enhance its esports reach.
ByteDance confirmed it was in discussions to sell its game business in 2024, with Tencent then marked as a potential buyer.
Savvy Games Group is owned by Saudi Arabia’s Public Investment Fund (PIF). The company has stakes in Nintendo, Capcom and Nexon, Take Two, Activision Blizzard, and Koei Tecmo. PIF is also part of a group of investors, including Silver Lake and Affinity Partners, that is acquiring Electronic Arts in a deal valued at $55 billion.
