Overview
- Bloomberg-sourced reports say ByteDance is discussing a sale of Shanghai Moonton Technology to Savvy Games Group, with no comments from either company and no assurance a deal will be reached.
- ByteDance acquired Moonton in 2021 at an estimated $4 billion valuation during its Nuverse-led push into video games.
- Coverage characterizes a possible divestment as part of ByteDance’s refocus on core businesses following restructuring and regulatory pressures.
- Savvy Games Group, funded by Saudi Arabia’s Public Investment Fund, has been expanding its regional capabilities, including the Mirai production facility in Riyadh, to grow its presence across MENA.
- Mobile Legends remains a strong earner in Southeast Asia but shows uneven growth elsewhere, with Q4 2024 peak weekly U.S. revenue near $1.1 million as competition from Riot’s Wild Rift increases.