ByteDance in talks to sell gaming unit Moonton for more than US$6 billion

[SINGAPORE/HONG KONG] ByteDance is in advanced talks to sell Shanghai Moonton Technology to Saudi Arabia’s Savvy Games Group, in a deal valued at between US$6 billion and US$7 billion, sources said.

Moonton is the studio behind the popular mobile game Mobile Legends: Bang Bang.

The deal could be sealed as soon as this quarter, said one of the two sources. The two companies have reached an initial agreement on the broad terms of the deal, said the second source.

The sources declined to be named as they were not authorised to speak to the media.

ByteDance, Moonton and Savvy Games did not immediately respond to requests for comment.

Reuters is reporting the deal value and the timeline of the possible transaction for the first time.

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The Moonton sale would add to an already busy dealmaking activity in the video game industry, as companies race to lock up durable franchises, live-service expertise and large online communities. REUTERS