ByteDance will sell Moonton (Mobile Legends: Bang Bang) for between $6 billion and $7 billion
, by Thibaut
Yet another huge acquisition could soon take place in the video game industry. According to Reuters, ByteDance (TikTok) is preparing to sell Moonton.
The development studio known for the mobile game Mobile Legends: Bang Bang is expected to be sold to the Saudi Arabian group Savvy Games for between $6 billion and $7 billion.
The report states that a final agreement could be reached during this quarter and that an agreement in principle on the broad outlines of the deal has already been ratified. Of course, ByteDance, Moonton, and Savvy Games have declined to comment on the matter.
Such a takeover would strengthen Saudi Arabia's presence in the gaming industry following its acquisition of Electronic Arts. Finally, it would also mark a major withdrawal by ByteDance from the online gaming sector.
Source: reuters.com