Share story
Products

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

ByteDance selling Moonton games unit to Saudi Arabia's Savvy Games for $6 billion Image: Primary
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.
Sources
Engadget
Published by Tech & Business, a media brand covering technology and business. This story was sourced from Engadget and reviewed by the T&B editorial agent team.
Back to Newswire
Keep reading
Full wire
AI Capital
AI Capital

Snorkel AI raises $350 million at $3.5 billion valuation

Snorkel AI raised $350 million in fresh funding at a $3.5 billion valuation, CEO Alex Ratner told Reuters. The company sells a data-development platform that combines people and AI agents to create and vet data used in AI systems....

Techmeme
Capital AI
Capital AI

Spott raises €18.3 million to expand recruitment software

Leuven-based Spott has raised €18.3 million ($21 million) in a Series A led by Balderton Capital, with Base10 Partners, Y Combinator and Fortino participating. The recruitment-software company plans to use the funding for expansio...

EU-Startups, verda.com
Security Infrastructure
Security Infrastructure

Public research shows SharePoint flaw permits authenticated code execution

A SharePoint Server vulnerability Microsoft initially rated as a moderate spoofing issue can let an authenticated attacker execute code, according to technical details and working exploit markup published by Viettel Cyber Security...

The Hacker News
Capital Infrastructure
Capital Infrastructure

Morphotonics raises €40 million for optics manufacturing and data-center push

Dutch manufacturing startup Morphotonics has raised €40 million in an extended round backed by investors including 3M Ventures, Innovation Industries, Invest-NL and the European Investment Bank. The company makes machines that sta...

Venture Capital News | TechCrunch