ByteDance has agreed to sell Moonton, the studio behind Mobile Legends: Bang Bang, to Saudi Arabia’s Savvy Games Group for $6 billion.
Moonton is best known for Mobile Legends, a multiplayer online battle arena (MOBA) game that’s hugely popular in Southeast Asia, especially in the Philippines and Indonesia. The game has built a strong esports scene, with tournaments like MPL Philippines drawing millions of fans.
According to an internal memo from Moonton CEO Zhang Yunfan, the deal is expected to close soon. Savvy Games will keep Moonton’s current management team and offer incentive programs to employees.
Savvy Games is backed by Saudi Arabia’s Public Investment Fund and has been investing heavily in gaming. Last year, its subsidiary Scopely bought Pokémon Go, Monster Hunter Now, and Pikmin Bloom for $3.5 billion. Its latest acquisition will give them a stronger presence in mobile gaming, one of the fastest-growing segments in the industry.
Also Read: Infinix and Moonton expand MLBB esports partnership in Southeast Asia
For ByteDance, the sale means a shift away from gaming. The company has been streamlining its operations to focus more on its core platforms like TikTok.
What do you think? Will Savvy’s ownership affect the future of MLBB?
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