China/Economy/ByteDance sells its gaming studio Moonton for over $6 billion

ByteDance sells its gaming studio Moonton for over $6 billion

Mar 20, 202614 sources

Summary

ByteDance, the company behind TikTok, has agreed to sell its video game studio Moonton. The buyer is Savvy Games Group, which is paying over $6 billion for the acquisition.

This sale marks ByteDance's exit from the major gaming studio business. The deal involves Savvy Games, a subsidiary of Saudi Arabia's Public Investment Fund, taking full ownership of the studio.

by WorldBrief & Maksim Micheliov | AI-generated summary

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ByteDance sells its gaming studio Moonton for over $6 billion

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