ByteDance in talks to sell gaming unit Moonton to Savvy Games: Report

02:57 PM (Mecca time) Argaam
ByteDance reached an initial agreement with Savvy Games Group to sell Shanghai Moonton Technology.

ByteDance reached an initial agreement with Savvy Games Group to sell Shanghai Moonton Technology.

ByteDance is in advanced talks to sell Shanghai Moonton Technology to Saudi Arabia's Savvy Games Group in ⁠a ⁠deal valued at between $6 billion and $7 billion, Reuters reported today, Feb.13, citing a source with knowledge of the matter.

 

A deal could be sealed as soon as this quarter, as the two ⁠companies have reached an initial agreement.

 

Founded in 2014, Moonton has emerged as a major force in the mobile gaming market. Its flagship title Mobile Legends: Bang Bang has surpassed 1.5 billion downloads and boasts more than 110 million monthly active users.

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