Savvy Games Group has agreed to acquire Moonton, the studio behind Mobile Legends: Bang Bang, from ByteDance for £4.5 billion ($6 billion). The deal announced this week marks the latest move by the Saudi-backed firm to build a global gaming empire while the TikTok owner focuses on artificial intelligence.
The transaction, expected to close in the coming months, values the Shanghai-based developer higher than ByteDance's original purchase. Moonton's management team, led by chief executive Zhang Yunfan, will stay in place, with employees offered incentive programmes to support a smooth transition.
