ByteDance sells Muvian Technology for over 6 billion US dollars, further focusing on AI and e-commerce.

According to reports, the Saudi Savvy Games Group has recently reached a final agreement with ByteDance to acquire all the shares of Moonton Technology for over 6 billion US dollars. Moonton Technology is the developer and publisher of the popular MOBA mobile game Mobile Legends: Bang Bang (MLBB) in Southeast Asia. It was acquired by ByteDance in 2021 for an estimated value of around 4 billion US dollars. With the lowest valuation of 6 billion US dollars in this transaction, ByteDance is expected to make a profit of over 2 billion US dollars (about 14 billion RMB) on this investment. It is reported that Moonton Technology has successfully launched several mobile games with high recognition overseas, including "Mobile Legends: Bang Bang", "Watcher of Realms", "Magic Chess: Go Go", "Silver and Blood", "Acecraft", "Mobile Legends: Adventure", and "Magic Rush: Heroes". Savvy Games Group, a subsidiary of the Saudi PIF, is committed to promoting Saudi Arabia's "2030 Vision" and reducing its dependence on oil. The company has made a series of large-scale acquisitions in the global gaming and esports industry in recent years. The acquisition of Moonton is a key step for Savvy to strengthen its competitiveness in the Asian market, especially in China and Southeast Asia. Analysts believe that Savvy's move this time is to fill the gap in its layout in the Asian gaming market, and Moonton's strong foundation in Southeast Asia will help Saudi Arabia quickly enter the emerging gaming market in Asia and improve the global gaming industry map. The sale of Moonton Technology is seen as part of ByteDance's strategic adjustment, aiming to divest non-core gaming businesses and shift resources and focus to more growth areas such as e-commerce, cloud computing, and AI. There are reports that ByteDance plans to invest heavily in the AI field, and selling assets can provide funding support for the new strategy. The sale of Moonton is seen as a further signal of ByteDance's strategic focus on AI.