US EditionByteDance to Sell Gaming Unit Moonton to Saudi PIF-Owned Firm
The sale supports Saudi Arabia's Public Investment Fund's strategy to grow in gaming, with ByteDance focusing on AI; Moonton valued at over $6 billion, sources said.
- On March 20, 2026, ByteDance agreed to sell Shanghai Moonton Technology to Riyadh-based Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, for more than $6 billion.
- Amid a push into AI, ByteDance has been winding down its gaming arm since 2023 and is shifting focus to AI development, while Savvy, owned by the PIF, pursues growth through acquisitions.
- Moonton CEO Zhang Yunfan said the studio will remain headquartered in Shanghai, with Moonton's management team unchanged and Moonton employees eligible for accelerated vesting and payouts over the coming months.
- The deal further accelerates consolidation in the video game industry, adding to around 45,000 jobs lost between 2022 and 2025, while PIF has invested in Niantic, Electronic Arts, and holds a stake in Nintendo.
- Installed more than 1.5 billion times, Mobile Legends: Bang Bang underscores Moonton's reach, while Brian Ward, Savvy CEO, said the deal will strengthen leadership and expand esports.
12 Articles
12 Articles
ByteDance agrees to sell Moonton to Savvy Games for $6 billion
ByteDance has agreed to sell Moonton to Savvy Games Group for about $6 billion, shifting its focus to generative AI. The Beijing company will keep Moonton’s management and offer staff incentives. Savvy, a subsidiary of Saudi Arabia’s $1 trillion Public Investment Fund, is central to the kingdom’s aggressive push to become a global leader in video games and esports.
TikTok owner ByteDance sells gaming unit to Saudi group for over $6 billion
TikTok owner ByteDance will sell its gaming studio Moonton to a Saudi-owned group for more than $6 billion, the firms and a person close to the matter said Friday, as the tech giant sharpens its focus on AI. The Beijing-based company is undergoing a broad restructuring aimed at shifting resources into its rapidly expanding artificial intelligence operations, a sector drawing heavy investment from Chinese tech majors. The company has invested hea…
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