ByteDance has struck a deal to sell its gaming studio Moonton to Savvy Games Group, a Saudi gaming company owned by the country’s sovereign wealth fund, for more than US$6 billion, the two sides said on Friday.
Moonton, known for the popular online battle title Mobile Legends: Bang Bang, recently signed an agreement to sell to Savvy, owned by Saudi Arabia’s Public Investment Fund, Moonton CEO Zhang Yunfan said in an internal memo on Thursday seen by the South China Morning Post.
A Savvy…
Continuity Under Fire
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