www.bloomberg.com
ByteDance, TikTok’s parent company, is reportedly negotiating the sale of its Shanghai Moonton Technology Co., a mobile gaming studio, to Savvy Games Group, a company based in Saudi Arabia. This potential acquisition signals Savvy Games Group’s continued expansion into the gaming industry and ByteDance’s possible restructuring of its gaming portfolio. The deal would likely give Savvy Games Group control over popular mobile games like Mobile Legends: Bang Bang, further solidifying their presence in the competitive gaming market. Details surrounding the price and timeline of the acquisition remain undisclosed.
