ByteDance, the company behind TikTok, already has a number of other subsidiaries under them. One of them is Moonton, the company that developed the Mobile Legends: Bang Bang game. After looking for a buyer for Moonton for the past few years, today it was officially shared that ByteDance has agreed to sell Moonton to Savvy Games Group, for a price of $6 billion.
This transaction is expected to be fully completed soon. For your information, Savvy Games is a company owned by the Saudi Arabian investment fund or PIF. They have a number of portfolio companies related to video games, including Niantic, in addition to investing in Electronic Arts and Nintendo.
With this sale, it seems that ByteDance will no longer focus on the video game arena, but rather on offering social services, e-commerce, and the latest offering involving artificial intelligence.
