• Savvy Games Group is in advanced talks to acquire Moonton for about USD 6B, strengthening Saudi’s global gaming investment strategy.
• The potential sale reflects ByteDance’s exit from gaming after heavy spending failed to challenge industry leader Tencent.
• The deal supports Saudi Arabia’s economic diversification plans by expanding its presence across high-growth digital entertainment and esports markets globally.

Savvy Games Group

Saudi Arabia’s Savvy Games Group is in advanced negotiations to acquire mobile game developer Moonton from ByteDance. The deal could value the studio at around USD 6 billion, according to sources that spoke with the Financial Times. 

If completed, the transaction would be one of the largest cross-border acquisitions of a Chinese gaming asset. It would also reinforce Saudi Arabia’s growing role as a global investor in the gaming industry.

Moonton is the developer behind Mobile Legends: Bang Bang, a leading multiplayer mobile title with strong esports traction. The game is especially popular across Southeast Asia. The company says the title has around 110 million monthly active players.

Gaming Acquisitions 

ByteDance acquired the Shanghai-based studio in 2021 for a reported USD 4 billion. The purchase was part of a broader push into gaming. The TikTok owner invested heavily in studios and partnerships to compete with market leader Tencent.

The strategy delivered limited results. ByteDance struggled to gain meaningful share in a highly competitive market. In late 2023, the company began restructuring its gaming unit and cutting jobs. The potential Moonton sale reflects a wider retreat from the sector.

Launched in 2022 by the PIF,  Savvy Games Group (SSG) is a gaming and e-sports company. The acquisition would align with a long-term expansion plan backed by Saudi Arabia’s Public Investment Fund (PIF). The sovereign fund has committed tens of billions of dollars to build a global gaming and esports platform.

Savvy’s approach focuses on acquiring established studios and globally recognized franchises. The group has already completed several major international deals. In 2023, it acquired US-based Scopely, publisher of the hit mobile game Monopoly Go. It also conducted a USD 3.5 billion transaction with Niantic to acquire Pokémon Go and other gaming assets.

Furthermore, it has also expanded its esports exposure. In 2023, Savvy invested USD 265 million in Shanghai-based esports operator VSPO, now rebranded as Hero Esports.

The potential Moonton acquisition supports Saudi Arabia’s broader economic diversification strategy. The kingdom is investing heavily in digital entertainment, gaming, and esports as part of its Vision 2030 agenda.

The talks between Savvy and ByteDance are ongoing, and with no agreement signed yet. Additionally, neither company has publicly confirmed the transaction.

If finalized, the deal would further position Saudi Arabia as one of the key pillars in the global gaming industry.