ByteDance to sell Mobile Legends studio for $6 billion
Business
ByteDance, the company behind TikTok, is close to selling its gaming studio Moonton to Saudi Arabia's Savvy Games Group for about $6 billion.
ByteDance originally bought Moonton in 2021 for $4 billion, but is now looking to move away from gaming and focus more on artificial intelligence.
Moonton has over 110 million active players each month
Moonton isn't just any studio: it's the team behind Mobile Legends: Bang Bang, a game that's been downloaded 1.5 billion times and has about 110 million active players each month.
The deal shows how ByteDance is changing direction after facing tough competition from giants like Tencent, and as Saudi Arabia ramps up its investment in global gaming.
If you're into mobile games or curious about big moves in tech, this one's worth watching.