Savvy Games Group has agreed to acquire Moonton Technology for $6B

Saudi Arabia-based Savvy Games Group, a subsidiary of the Public Investment Fund (PIF), has agreed to acquire Shanghai-based mobile game developer Moonton Technology from China-based internet technology company ByteDance for $6.0B, in a deal announced on Mar 20, 2026. The transaction values Moonton at a ~50% premium to the ~$4B ByteDance paid in 2021, when it acquired the studio via gaming subsidiary Nuverse, outbidding Tencent (SEHK: 700). CEO Zhang Yunfan will remain in place, employees will receive incentive packages, and Moonton will retain operational autonomy.

Moonton is the developer of the mobile MOBA Mobile Legends: Bang Bang, which has surpassed 1.5 billion lifetime installs and maintains over 110 million monthly active users, concentrated primarily in Southeast Asia. We previously covered Moonton’s financial profile, ByteDance’s projected deal return, and the strategic rationale for both parties on our website. The acquisition transfers a complete competitive gaming ecosystem: the M-Series generates revenue from broadcasting rights and brand sponsorships. In addition to in-game monetization through skins and battle passes, it constitutes another compelling revenue stream.

The deal extends Savvy’s gaming portfolio, which already includes US-based mobile publisher Scopely, acquired for $4.9B in Jul’23. Scopely subsequently acquired Niantic’s games division, including the AR location game Pokémon GO, for $3.5B in May’25. Combined with broader listed equity stakes and the pending take-private of US-based games publisher Electronic Arts (NASDAQ: EA) at ~$55B, PIF’s total gaming-related deployment approaches more than $70B in aggregate transaction value, underscoring the scale of Saudi Arabia’s strategic commitment to the global games industry.