According to Reuters, ByteDance has reportedly agreed to sell its gaming studio Moonton to Saudi Arabia’s Savvy Games Group in a deal worth around USD6 billion (~RM23.6 billion). The move marks a major shift in strategy for TikTok’s parent company, which is now moving away from the gaming industry.
What does this mean for gamers in SEA?
For your information, Moonton is known as the developer of Mobile Legends: Bang Bang (MLBB), one of the most popular mobile games in Southeast Asia, including Malaysia. With a large player community and a robust esports ecosystem, Moonton is a valuable asset in the global gaming market.
According to Reuters, the sale is in line with ByteDance’s efforts to restructure its business and focus on core areas such as artificial intelligence (AI) and digital content platforms. Previously, ByteDance acquired Moonton in 2021 for an estimated value of around USD4 billion. (~RM16.2 billion)
For Savvy Games, this acquisition further strengthens Saudi Arabia’s ambitions to become a major player in the global gaming and esports industry. The company has previously invested aggressively in various international gaming studios and companies.
Despite the change in ownership, the Reuters report states that Moonton’s management team is expected to remain, ensuring that MLBB’s operations and development continue as usual.
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