ByteDance to Sell Game Studio Moonton to Saudi Wealth Fund
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Moonton will become a wholly owned subsidiary of Savvy Games Group, a unit of Saudi Arabia’s Public Investment Fund. Photo: VCG
ByteDance Ltd. has agreed to sell its video game studio Moonton to a subsidiary of Saudi Arabia’s sovereign wealth fund, according to an internal letter seen by Caixin.
Moonton will become a wholly owned subsidiary of Savvy Games Group, a unit of the Public Investment Fund (PIF), Moonton CEO Zhang Yunfan said in the letter.
While Zhang did not disclose the deal’s value, Bloomberg reported on Friday that it could be about $6 billion, citing an anonymous source familiar with the matter. ByteDance did not respond to Caixin’s request for comment.
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- ByteDance sold its gaming studio Moonton to Savvy Games Group, a subsidiary of Saudi Arabia’s Public Investment Fund, reportedly for about $6 billion.
- Moonton's game "Mobile Legends: Bang Bang" surpassed 110 million monthly active users and 1.5 billion downloads by end of 2024.
- The PIF continues expanding in gaming, having previously acquired Scopely for $4.9 billion and been part of a $55 billion deal to take Electronic Arts private.
AI generated, for reference only
Who’s Who
- ByteDance Ltd.
- ByteDance Ltd. is a Chinese technology company that has recently divested its video game studio, Moonton, to Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund. This sale concludes ByteDance's full ownership of Moonton, which it acquired in March 2021. The move aligns with ByteDance's broader strategy to scale back its gaming ambitions amidst industry cost-cutting and regulatory scrutiny.
- Moonton
- Moonton, a video game studio founded in 2014, is known for its popular game "Mobile Legends: Bang Bang," which has over 1.5 billion global downloads. The company also developed "Watcher of Realms" and "Magic Rush: Heroes." Acquired by ByteDance in 2021, Moonton was recently sold to Savvy Games Group, a subsidiary of Saudi Arabia's sovereign wealth fund. The studio's management and headquarters in Shanghai will remain unchanged.
- Savvy Games Group
- Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has acquired Moonton, a video game studio, from ByteDance Ltd. Moonton will operate as a wholly owned subsidiary, retaining its management and headquarters. This acquisition is part of PIF's strategy to expand its gaming empire and diversify Saudi Arabia's economy.
- Tencent Holdings Ltd.
- Tencent Holdings Ltd. was an unsuccessful bidder for Moonton in March 2021. ByteDance outbid them, offering a higher price and more autonomy to the gaming studio. This indicates Tencent's interest in expanding its presence in the gaming sector.
- Nuverse
- Nuverse is ByteDance's gaming unit. In late 2023, ByteDance downsized Nuverse, canceling unreleased projects and seeking buyers for ongoing titles. However, by March 2024, ByteDance consolidated its remaining gaming assets, including Moonton, under a newly formed department, rather than under Nuverse.
- Scopely Inc.
- Scopely Inc. is a US-based game maker that was acquired by Savvy Games Group, a unit of Saudi Arabia's Public Investment Fund (PIF). The acquisition, which took place in 2023, was valued at $4.9 billion. This purchase is part of the PIF's strategy to expand its gaming empire and diversify Saudi Arabia's economy away from non-energy sectors.
- VSPO
- The Public Investment Fund (PIF) has backed **VSPO**, also known as **竞界电竞** in Chinese. VSPO is a tournament operator, and this investment is part of the PIF's broader strategy to expand its gaming empire and diversify Saudi Arabia's economy.
- Nintendo Co. Ltd.
- Nintendo Co. Ltd. is a company in which Saudi Arabia's Public Investment Fund (PIF) has held stakes, as part of the PIF's strategy to invest in non-energy sectors and expand its gaming empire.
- Kakao Entertainment Corp.
- The Public Investment Fund (PIF) has held stakes in Kakao Entertainment Corp., a South Korean company. This is part of the PIF's strategy to invest in non-energy sectors and expand its gaming empire, managing nearly $1 trillion in assets.
- Electronic Arts Inc.
- A consortium including Saudi Arabia's Public Investment Fund (PIF) took Electronic Arts Inc. private in September 2025. This deal valued the U.S. video game developer at $55 billion.
AI generated, for reference only
What Happened When
- 2014：
- Moonton was founded.
- 2023：
- Savvy Games Group (backed by PIF) bought Scopely Inc. for $4.9 billion.
- March 2021：
- ByteDance fully acquired Moonton for more than $4 billion.
- Late 2023：
- ByteDance downsized its Nuverse gaming unit, canceled unreleased projects, and sought buyers for ongoing titles.
- March 2024：
- ByteDance consolidated remaining gaming assets including Moonton under a newly formed department.
- By the end of 2024：
- Mobile Legends: Bang Bang surpassed 110 million monthly active users and 1.5 billion global downloads.
- 2025：
- Moonton ranked 13th among Chinese mobile game publishers by revenue.
- September 2025：
- A consortium including the PIF took Electronic Arts Inc. private in a deal valuing the company at $55 billion.
AI generated, for reference only
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