TikTok owner ByteDance has reopened talks to sell Moonton Games, the developer of
Mobile Legends: Bang Bang, to
Savvy Games Group, the gaming subsidiary of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, according to
Bloomberg. The Chinese conglomerate, which acquired Moonton in 2021 for around 4 billion dollars, had already considered selling the studio in 2023 before putting the plan on hold. Talks have now resumed, though Bloomberg reports that negotiations are still in their early stages.
When ByteDance bought Moonton, it secured one of the most successful mobile titles in Southeast Asia.
Mobile Legends: Bang Bang already had a fully built and thriving esports ecosystem, which has only grown since the acquisition. Today, the mobile MOBA hosts the second most-watched esports competition of the year—behind
League of Legends Worlds but ahead of
VALORANT Champions,
Counter-Strike Majors, and
Dota 2’s The International.
Since late 2023, ByteDance has been gradually withdrawing from the video game industry to refocus on its core businesses, including TikTok and its Chinese version Douyin. The company sold its gaming arm Nuverse to Tencent in mid-2024, marking another step in that direction. For Savvy Games Group and the PIF, acquiring Moonton would fit into their broader strategy of building a massive portfolio in gaming and esports, which already includes ESL FACEIT Group, Scopely (Monopoly GO!, Stumble Guys), and SNK (Fatal Fury, King of Fighters). The fund and its partners also recently reached an agreement to purchase Electronic Arts for roughly 55 billion dollars.
However, this expansion drive is taking place amid a more strained financial context for the PIF. A recent
New York Times report describes a fund whose nearly 1 trillion dollars in assets are largely tied up in expensive domestic projects. Some investment partners have reportedly been warned that new commitments will be fewer and more conditional, focusing on supporting existing ventures. These financial pressures have already led to the dismissal of the executive heading the ambitious Neom megaproject, which, in 2020, briefly explored a sponsorship deal with the LEC before facing a backlash and backing out.
