ByteDance Agrees to Sell Moonton to Savvy Games Group in $6 Billion Deal

ByteDance Ltd. has agreed to sell its games unit, MOONTON Games, to Saudi-backed investment firm Savvy Games Group for $6 billion.

Mobile Legends: Bang Bang developer Moonton sold for $6 billion

According to Bloomberg, the Chinese company has signed an agreement with Savvy Games Group, with the transaction to be finalized in the near future. In the internal memo shared by Moonton CEO Zhang Yunfan stated that the management team will stay in place, with employees being offered incentive programs.

The final evaluation of Moonton has been confirmed to be around $6 billion, going up from the $4 billion offered in 2021.

The reason behind the sale

The company has been gradually withdrawing from the video-game sector, following increased pressure from Chinese regulations on online gaming and the shift towards generative AI. Earlier in 2023, the company had already initiated large-scale layoffs on its flagship gaming brand, Nuverse.

Moreover, ByteDance has been unable to increase its market share compared to Tencent,  with its 2025 financial results in decline, having generated $158.2 million on its flagship game title Mobile Legends: Bang Bang (MLBB), the lowest since 2019.

Savvy Games Group continues to expand its footprint in gaming

Savvy, which is backed by Saudi Arabia’s Public Investment Fund (PIF), has been acquiring several gaming and esports-focused companies.

Aside from the soon-to-be-bought ByteDance, the investment company has also bought Niantic Inc’s Pokémon Go last year, through one of the company’s subsidiaries, for $3.5 billion.

The company had already begun its expansion in the esports industry in 2021, when it invested $265 million in Chinese esports operator VSPO (now known as Hero Esports).

The PIF is also looking to acquire EA FC Sports game developer Electronic Arts (EA) for $55 billion through a leveraged buyout.