ByteDance is reportedly revisiting plans to sell Moonton, the studio behind Mobile Legends: Bang Bang, with Saudi Arabia–backed Savvy Games Group emerging as a potential buyer.
According to a Bloomberg report, discussions are ongoing but remain uncertain, with sources stressing that negotiations may not ultimately result in a completed deal.
A Revived Exit Plan for Moonton
The talks mark a return to ByteDance’s earlier effort to offload Moonton, which it acquired in 2021 at a valuation of roughly $4 billion. That plan was previously paused, but renewed discussions suggest ByteDance is once again reassessing its position in the global games business.
Moonton remains one of the most valuable mobile game studios in the world, largely driven by the continued success of Mobile Legends, particularly across Southeast Asia and emerging markets.
Savvy Games Group and Saudi Arabia’s Gaming Push
Founded in 2021, Savvy Games Group is owned by Saudi Arabia’s Public Investment Fund (PIF) and serves as a key vehicle in the Kingdom’s strategy to become a global hub for games and esports.
Savvy has been active in pursuing major international acquisitions, and the PIF recently made headlines after proposing a $55 billion takeover of Electronic Arts, alongside partners including Silver Lake and Affinity Partners.
Constraints on Both Sides
Despite its aggressive ambitions, the PIF may face capital deployment constraints, with a significant portion of its nearly $1 trillion in assets tied up in long-term, illiquid projects such as Neom and large-scale luxury developments. This could complicate funding for additional large acquisitions.
ByteDance, meanwhile, is under growing pressure related to its TikTok operations in the United States. To comply with a 2024 national security law, the company is preparing to sell around 80% of TikTok’s US assets to a consortium of American and international investors.
Under an order from President Donald Trump, ByteDance faces a late January 2026 deadline, with requirements that TikTok’s algorithm be retrained, monitored by US security partners, and governed under a new joint venture structure.
Gaming Divestments Already Underway
ByteDance has already begun pulling back from certain parts of its gaming footprint. The company has relinquished US publishing rights for titles including Mobile Legends and Marvel Snap, signaling a broader retrenchment amid regulatory pressure.
The Bigger Picture
A potential sale of Moonton would align with ByteDance’s efforts to streamline its business amid geopolitical scrutiny, while offering Savvy another chance to acquire a globally significant mobile studio. However, with financial, regulatory, and strategic hurdles on both sides, the outcome of the talks remains far from certain.
For now, the discussions highlight how global gaming deals are increasingly shaped not just by market opportunity—but by politics, capital constraints, and long-term national strategies.
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