Savvy Games Group, the gaming and esports firm backed by Saudi Arabia’s Public Investment Fund (PIF), is reportedly in advanced negotiations to acquire Moonton Technology from Chinese tech giant ByteDance. The potential acquisition of the Shanghai-based studio, renowned for its blockbuster mobile title Mobile Legends: Bang Bang, marks a significant strategic move in the Kingdom’s ambition to become a global gaming hub.
A Strategic Push Into Global Gaming
The revived talks signal a determined effort by Savvy Games to expand its global footprint in the competitive mobile gaming market. Negotiations between the two parties were previously initiated in late 2023 but stalled due to disagreements over valuation. The resumption of discussions indicates a strong and persistent interest from Savvy Games in acquiring the high-value asset.
This move is a key part of Saudi Arabia’s broader strategy to invest heavily in the gaming sector, diversify its economy, and establish itself as a major player on the world stage.
The Target: Moonton Technology
ByteDance, the parent company of TikTok, acquired Moonton in 2021 for approximately $4 billion in a bid to challenge rivals in the core gaming space. However, the unit has reportedly failed to meet internal performance expectations, prompting the decision to sell.
Moonton’s primary asset is Mobile Legends: Bang Bang, one of the world’s most popular multiplayer online battle arena (MOBA) games for mobile devices, with a massive following, particularly in Southeast Asia. A successful acquisition would provide Savvy Games with a top-tier mobile gaming title and a significant global user base.
Revived Negotiations and Outlook
While sources familiar with the matter indicate that talks are at an advanced stage, the deal is not yet finalized and remains subject to the successful conclusion of negotiations.
Should the transaction be completed, it would represent one of the largest acquisitions by Savvy Games Group to date, substantially strengthening its portfolio and accelerating its mission to invest in and grow the global games industry.
About Savvy Games Group
Savvy Games Group is a games and esports company established to drive the long-term growth and development of the gaming ecosystem worldwide. Wholly owned by Saudi Arabia’s Public Investment Fund (PIF), Savvy is investing in the industry across game development, esports, and publishing to create opportunities for participation and progression.
Source: Tech in Asia
