Overview
- ByteDance and Savvy Games Group announced an agreement for Savvy, owned by Saudi Arabia’s Public Investment Fund, to acquire Moonton for more than $6 billion.
- The companies indicated the acquisition is expected to close over the coming months.
- Moonton CEO Zhang Yunfan will remain in place with the current management team, and the studio will continue to operate from Shanghai.
- Upon completion, Moonton employees are set to receive incentives including accelerated vesting and payouts of certain long-term incentives.
- Moonton, maker of Mobile Legends: Bang Bang with about 1.5 billion installs and over 110 million monthly users, will join a PIF-backed portfolio that has included Niantic via Scopely and a major role in the Electronic Arts take-private.