Reuters reports that ByteDance is in advanced talks with Saudi Arabia’s Savvy Games Group regarding the sale of its gaming subsidiary, Moonton Technology, for a deal valued between $6 billion and $7 billion.
Moonton is the developer of the popular mobile game Mobile Legends: Bang Bang. ByteDance acquired the studio in 2021 for approximately $4 billion as part of its global gaming expansion. If the sale is completed, it would mark the end of ByteDance’s development of mid-to-high-end games.
Sources indicate that both parties are working quickly and a final agreement could be reached within this quarter, although negotiations are ongoing and terms are subject to change.
