Singapore – ByteDance is in advanced talks to sell its gaming studio, Shanghai Moonton Technology—the developer of the popular mobile game Mobile Legends: Bang Bang—to Saudi Arabia’s Savvy Games Group in a deal potentially valued at $6–$7 billion.
According to Reuters, two anonymous sources familiar with the matter said the deal could be completed as soon as this quarter, with both companies having “reached initial agreement on broad terms of the deal.” The sources requested anonymity as they are not authorised to speak with the media.
The report marks the first public disclosure of both the deal’s potential value and timeline.
If completed, the sale would represent a major retreat for ByteDance from the online gaming market and contribute to ongoing consolidation in the video game industry, where major players are competing for intellectual property, distribution channels, and global scale.
ByteDance acquired Moonton in 2021 through its gaming unit Nuverse, in a deal reported at the time to be worth around $4 billion. However, by 2023, reports emerged that ByteDance planned to wind down Nuverse and scale back its mainstream gaming efforts. The company told Reuters that it had decided to restructure its gaming business following a review, without providing further details.
Prior to the reported sale, Moonton also unveiled plans for the global expansion of Mobile Legends: Bang Bang. Over the past decade, the game has accumulated more than 1.5 billion installations and 110 million monthly active users, according to its website. Its esports ecosystem, running for nine years, has been recognised by Esports Charts as the world’s most popular mobile esports title each year since 2021.
Meanwhile, Savvy Games Group is a Riyadh-based games and esports company founded by Brian Ward. Established in 2021 by Saudi Arabia’s Public Investment Fund (PIF), the company aims to advance the kingdom’s Vision 2030. Savvy Games Group’s mission is to drive long-term growth and development in esports and the broader gaming industry worldwide.
