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| ByteDance confirms $6 billion sale of Shanghai-based video game company Moonton to Saudi Arabian company Savvy Games Group. (Image credit: Pandhuya Niking, Unsplash) |
Bytedance has confirmed to sell Moonton, popularly known for its MOBA title Mobile Legends: Bang Bang to Savvy Games Group, which is owned by the government-funded Saudi Arabia Public Investment Fund, for USD 6 billion.
The deal was first reported by Reuters on March 20, 2026 as ByteDance started restructuring its gaming division, Nuverse and scaled back its efforts on the video game industry to instead focus on developing AI. The selling of Moonton Technology represents a further step of this restructuring.
Savvy Games' CEO, Brian Ward, said the acquisition would help the company develop its mobile games division and expand its Esports vision on a wider scale.
Savvy Games's acquisition of Moonton means that Mobile Legends may reenter the North American market as originally planned. It also means that its Esports events can expand to a much wider global audience.
Source: Esports Charts, Games Industry Biz
(by Raphael Briones)
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