Savvy Group pays $6 Billion to acquire the studio responsible for Mobile Legends: Bang Bang
, by Thibaut
Another major acquisition is in the works in the video game industry. Once again, Saudi Arabia is leading the charge through its video game-focused investment firm, Savvy Games Group.
The group is set to acquire Moonton, the studio behind Mobile Legends: Bang Bang, for approximately $6 billion. Last month, a report indicated an offer ranging between $6 and $7 billion.
ByteDance and Savvy Games have finally signed an agreement “subject to regulatory approval”. Moonton’s CEO also stated that the acquisition will enable his teams to deliver a better gaming experience.
Brian Ward, CEO of Savvy Games, also commented in a press release.
"This acquisition directly supports Savvy’s vision of fostering prosperity and social connection through gaming for future generations, as well as our mission to drive long-term growth and innovation in gaming and esports. Once finalized, it will strengthen our leadership position in mobile gaming, enrich our talent pool, expand our global presence, and reinforce our influence in esports."
Source: asia.nikkei.com