Saudi Tycoon Acquires Moonton for Over $6 Billion: Company Structure Remains Unchanged, Zhang Yunfan Stays as CEO

Why did AI · Savvy acquire Mu Tong Technology for $6 billion?

Today, Mu Tong Technology issued an internal letter announcing that the company has been fully acquired by Savvy Games Group, a gaming giant wholly owned by the Saudi Arabian sovereign wealth fund.

Since Byte’s gaming business restructuring, there have been rumors about this deal, with a rough outline emerging late last year. The two sides officially began negotiations in the second half of 2025 and reached a consensus on core terms in early 2026. Ultimately, Savvy acquired all shares of Mu Tong for over $6 billion.

This transaction occurred only five years after Byte’s acquisition of Mu Tong—at that time, the purchase price was $4 billion. Considering the negotiation and discussion period, the actual sale interval might have been even shorter.

According to the internal letter, after this deal, Mu Tong’s management structure will remain unchanged, with Zhang Yunfan continuing as CEO. Additionally, the company will implement multiple incentive plans based on employees’ past contributions and future performance.

Below is the full internal letter:

Hello everyone, recently the company signed an agreement with Savvy Games Group, and both parties will complete the transaction within a certain period. After the deal is finalized, Mu Tong will become a wholly owned subsidiary of Savvy. Meanwhile, Mu Tong’s management structure remains unchanged, and Mu Tong will continue to be headquartered in Shanghai. I will also continue to serve as CEO, leading the management team to move the company forward.

This transaction was carefully considered and discussed. “Creating exciting experiences for global players” remains Mu Tong’s mission. Since launching in 2016, “Mobile Legends: Bang Bang” has been loved by many players. Based on this, we have built a professional and rich esports ecosystem. This aligns with Savvy’s mission to “promote long-term development and innovation in gaming and esports” and its esports plans. We believe that through cooperation with Savvy, Mu Tong will embrace broader development opportunities and bring better gaming experiences to more players worldwide.

After the transaction, based on employees’ past contributions, we will offer multiple incentive plans, including accelerating the vesting and distribution of some long-term incentives granted in the past. We will also introduce new attractive incentive schemes based on future performance. Details will be communicated by team leaders and HRBP.

In the past two years, we have achieved good results. I believe we will create an even brighter future together!

Zhang Yunfan