ByteDance selling Moonton games unit to Saudi Arabia's Savvy Games for $6 billion

ByteDance is selling its Moonton gaming unit to Saudi Arabia's Savvy Games Group for $6 billion, Engadget reported. Moonton is the developer of Mobile Legends: Bang Bang, one of the most popular mobile games in Southeast Asia. The sale continues ByteDance's retreat from gaming after the company shut down its Nuverse gaming division in 2023. Savvy Games, backed by the Saudi Public Investment Fund, has been aggressively acquiring gaming assets. The deal gives Savvy Games a dominant position in the Southeast Asian mobile gaming market.