Saudi Savvy Games Group Acquires Mobile Legends Studio Moonton
Moonton is expected to continue operating independently from its Shanghai headquarters.
Saudi-based Savvy Games Group acquires mobile gaming studio Moonton from ByteDance, the Beijing-based technology company and owner of TikTok, in a deal valued at over $6 billion.
The Shanghai-based studio is best known for developing Mobile Legends: Bang Bang, one of the world’s most popular mobile games. ByteDance originally acquired Moonton in 2021 for around $4 billion.
The acquisition marks another major move by Savvy Games Group—backed by Saudi Arabia’s Public Investment Fund—as it continues to expand its footprint across the global gaming and e-sports industry. Saudi Arabia’s Electronic Gaming Development recently acquired a 5.03% stake in Street Fighter and Resident Evil publisher Capcom.
For ByteDance, the move signals a broader strategic shift away from gaming as it ramps up investment in AI and emerging technologies.
Moonton is expected to continue operating independently from its Shanghai headquarters, with its existing leadership remaining in place following the acquisition.
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