Moonton to be sold to Savvy Games in $6 billion deal

ByteDance confirmed on Friday, March 20, that it will sell game developer Moonton to Saudi Arabia’s Savvy Games for $6 billion. The deal marks a major move in the global gaming industry and shifts ownership of one of the most popular mobile games today.

Savvy Games, which is owned by Saudi Arabia’s Public Investment Fund, plans to grow its presence in esports and gaming through this purchase. The agreement was first reported by Japan-based news agency Nikkei before it was officially confirmed. Earlier talks between the two companies were said to focus on a possible partnership before leading to a full sale.

Moonton is best known for creating Mobile Legends: Bang Bang, a widely played mobile game, especially in Southeast Asia. The company has also released other titles such as Magic Chess: Go Go, Aircraft, and Watcher of Realms. Savvy Games already has ties to esports through groups like ESL Faceit Group and events such as the Esports World Cup.

ByteDance bought Moonton in 2021 for $4 billion. At that time, Mobile Legends had reached over one billion registered users and ranked as one of the top mobile games worldwide. ByteDance also owns other platforms like TikTok and CapCut.