ByteDance is set to sell Moonton to Saudi Arabia’s Savvy Games for $6 billion after confirming the agreement on Friday, March 20.
Savvy Games is owned by Saudi Arabia’s Public Investment Fund, as the sale is eyeing to further scale their investment in esports and gaming.
The agreement between the companies was first reported by Japan’s news agency, Nikkei. Before the confirmation of the sale, ByteDance had “aimed for a strategic partnership” in its talks with Savvy Games.
Moonton is known for its mobile MOBA, Mobile Legends: Bang Bang. While Savvy Games has been involved with titles and esports companies, such as the ESL Faceit Group and the Esports World Cup.
Moonton has since released other titles such as Magic Chess: Go Go, Aircraft, and Watcher of Realms.
ByteDance’s history with Moonton
ByteDance bought Moonton for $4 billion in 2021. During that time, Mobile Legends: Bang Bang had surpassed over one billion registered accounts. The app also ranked first globally during that year.
ByteDance also owns TikTok and CapCut, among others.