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ByteDance has entered advanced negotiations to sell Shanghai Moonton Technology, the developer behind mobile game Mobile Legends: Bang Bang, to Saudi Arabia’s Savvy Games Group in a transaction valued between $6 billion and $7 billion, according to sources familiar with the matter.
The deal could be finalized as early as this quarter, with the two companies having reached initial agreement on broad terms, the sources said. The transaction would represent ByteDance’s major exit from the online gaming sector following its 2023 decision to restructure its gaming operations.
Strategic Retreat from Gaming
ByteDance acquired Moonton in 2021 through its gaming unit Nuverse for approximately $4 billion as part of an effort to build an international gaming business capable of competing with established industry leaders. The sale at a significantly higher valuation reflects Moonton’s growth over the past four years, though it marks ByteDance’s withdrawal from the competitive gaming market.
The TikTok parent company announced in 2023 that it would restructure its gaming business following an internal review. The Moonton divestment represents the most substantial move in that strategic shift.
Mobile Legends Performance
Founded in 2014, Moonton has established itself as a significant player in the mobile gaming sector. According to the company’s official website, Mobile Legends: Bang Bang has accumulated over 1.5 billion installations and maintains more than 110 million monthly active users. The game ranks among the top 10 most played titles in over 80 countries.
Moonton operates as a global video game company focused on development, publishing, and e-sports. The studio employs more than 2,000 people across offices in Indonesia, Malaysia, Singapore, the Philippines, Latin America, and China.
Savvy Games Group Expansion
The acquisition would add to Savvy Games Group’s growing portfolio of gaming assets. The Saudi Public Investment Fund-owned company has pursued an aggressive expansion strategy through acquisitions, investments, and commercial ventures.
Savvy Games acquired Scopely, the Culver City-based mobile game developer, for $4.9 billion in 2023. Scopely subsequently purchased the gaming division of Niantic, the developer of Pokemon Go, for $3.5 billion in March.
Industry Consolidation Continues
The potential Moonton transaction contributes to ongoing consolidation in the video game industry, where major players are competing for intellectual property dominance, expanded distribution channels, and greater scale in global markets.
The deal comes as ByteDance’s overall valuation has increased substantially. The company’s first- and second-quarter 2025 revenues surpassed those of Meta, making ByteDance the world’s largest social media company by sales. In the third quarter, ByteDance launched an employee share buyback program at a valuation exceeding $330 billion, up 5.5% from the previous buyback in March.
Source: Reuters
