Savvy Group has signed a deal with ByteDance to acquire Mobile Legends: Bang Bang studio, Moonton, for over $6 billion.
A report from last month stated that ByteDance was preparing to sell the Moonton studio for between $6 billion and $7 billion, with Saudi Arabia’s Public Investment Fund-owned Savvy Games as the supposed buyer. We have now received confirmation that the deal is almost complete.
Saudi’s Savvy Group Signs Deal to Acquire Moonton from ByteDance
A report by Nikkei Asia reveals that ByteDance and Savvy Games have “signed an agreement and the completion of the deal will be subject to regulatory approvals”, which will make the latter the new owner of Moonton. The CEO of Moonton has stated that the new acquisition will provide them with “broader development opportunities” to help bring a “better gameplay experience to more players around the world.”
A ByteDance spokesperson has also commented on the transaction, stating, “This transaction marks a natural next step in its journey.” While the CEO of Savvy Games, Brian Ward, stated:
“This acquisition directly supports Savvy’s purpose to enable prosperity and connection through play for generations to come, and our mission to drive long-term growth and innovation in games and esports. Once completed, it will further strengthen our leadership in mobile games, deepen our talent pool, expand our global footprint, and enhance our reach across esports.”
Moonton Studio is the developer of Mobile Legends: Bang Bang, which is among the top 10 mobile gaming titles and a significant player in the esports scene. The game boasts approximately 110 million monthly active users and has been downloaded over 1.5 billion times, making it one of the biggest mobile games available today.
In other news, Saudi Arabia’s Electronic Gaming Development Company has acquired a 5% stake in Capcom. What are your thoughts on Savvy Group purchasing Moonton from ByteDance? Leave your thoughts down in the comments, and join the official Insider Gaming Discord server.
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They should buy NagoshiStudio and StudioFlare or SNK should.