M&A News: TikTok Owner ByteDance Sells Gaming Unit Moonton to Saudi Arabia for $6B

FomoAnxiety · 2026-03-20T12:23:12+00:00

ByteDance has sold its gaming unit Moonton, known for Mobile Legends, to Saudi's Savvy Games Group for $6 billion to focus on AI development. Moonton's management remains, while the global gaming market continues to grow.

FomoAnxiety

2026-03-20 12:23:12

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TikTok owner ByteDance has reportedly sold its gaming unit Moonton to a Saudi Arabian peer for around $6 billion to fully focus its attention on AI.

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Mobile Legends Move

According to a Bloomberg report, ByteDance has concluded talks to sell Shanghai Moonton Technology, the studio behind the popular mobile game Mobile Legends, to Savvy Games Group.

It is understood that Moonton CEO Zhang Yunfan and his management team will remain in place following the acquisition, while employees will benefit from a range of incentive programs.

The move means that ByteDance will now refocus its efforts on developing generative AI. The proceeds are expected to support investments in large language models and the infrastructure required to sustain platforms like TikTok.

For Savvy Games, backed by Saudi Arabia’s Public Investment Fund, it is part of a plan to become a global gaming and e-sports hub.

ByteDance’s video games unit Nuverse bought Moonton Technology back in 2021 in a deal believed to be worth around $4 billion. It is understood that Chinese video games and social media company Tencent TCEHY -1.77% ▼ also made a bid for Moonton at the time.

Growing Global Market

Mobile Legends: Bang Bang is one of the most popular MOBA (Multiplayer Online Battle Arena) mobile games in the world. It won “Most Competitive Game of the Year” at the MOBIES 2024 and “Esports Mobile Game of the Year” at the Esports Awards 2024.

Other Moonton games include Magic Chess: Go Go and the gothic vampire game Silver and Blood.

Savvy’s games include Monopoly Go!, which has had over 150 million downloads around the world. It is an investor in Hero Esports, formerly VSPO, the largest esports company in Asia and it sponsors Saudi football club Al-Hilal.

The global mobile gaming market size was estimated at $139.38 billion in 2024 and is projected to reach $256.19 billion by 2030 as smartphone adoption increases around the world.

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