Savvy Games Group, a games and esports company wholly owned by Saudi Arabia’s Public Investment Fund (PIF), is reportedly in talks with China’s ByteDance to buy its gaming studio, Shanghai Moonton Technology. The discussions revive ByteDance’s previously shelved plan to sell Shanghai Moonton Technology, the developer of Mobile Legends: Bang Bang and role-playing game Crystal of Atlan, […]Savvy Games Group, a games and esports company wholly owned by Saudi Arabia’s Public Investment Fund (PIF), is reportedly in talks with China’s ByteDance to buy its gaming studio, Shanghai Moonton Technology. The discussions revive ByteDance’s previously shelved plan to sell Shanghai Moonton Technology, the developer of Mobile Legends: Bang Bang and role-playing game Crystal of Atlan, […]

PIF’s Savvy in talks to buy TikTok owner’s game studio

2025/11/27 20:38
  • Savvy covets Moonton Technology
  • Discussions revive sale plan
  • ByteDance paid $4bn in 2021

Savvy Games Group, a games and esports company wholly owned by Saudi Arabia’s Public Investment Fund (PIF), is reportedly in talks with China’s ByteDance to buy its gaming studio, Shanghai Moonton Technology.

The discussions revive ByteDance’s previously shelved plan to sell Shanghai Moonton Technology, the developer of Mobile Legends: Bang Bang and role-playing game Crystal of Atlan, Bloomberg reported, quoting unidentified sources.

The talks are ongoing but may not result in a deal, the report said.

ByteDance, the owner of TikTok, acquired Moonton for nearly $4 billion in 2021.

Further reading:

  • How Saudi Arabia became an esports superpower
  • Saudi gaming company courts giants of Japan and South Korea
  • PIF continues to trim stake in Japan’s Nintendo

Savvy Games, founded in 2021, is a major investor in global videogame companies, including Japan’s Nintendo. It agreed to acquire California-based Scopely, a mobile game developer, for $4.9 billion in 2023.

In September a group of investors led by PIF agreed to buy US videogame developer Electronic Arts for $55 billion.

Saudi Crown Prince Mohammed bin Salman laid out a SAR142 billion ($37.8 billion) strategy for Savvy Games Group in September 2022 to make the kingdom “the ultimate global hub for the games and esports sector by 2030”.

Market Opportunity
SQUID MEME Logo
SQUID MEME Price(GAME)
$38.3376
$38.3376$38.3376
+0.04%
USD
SQUID MEME (GAME) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Fed Decides On Interest Rates Today—Here’s What To Watch For

Fed Decides On Interest Rates Today—Here’s What To Watch For

The post Fed Decides On Interest Rates Today—Here’s What To Watch For appeared on BitcoinEthereumNews.com. Topline The Federal Reserve on Wednesday will conclude a two-day policymaking meeting and release a decision on whether to lower interest rates—following months of pressure and criticism from President Donald Trump—and potentially signal whether additional cuts are on the way. President Donald Trump has urged the central bank to “CUT INTEREST RATES, NOW, AND BIGGER” than they might plan to. Getty Images Key Facts The central bank is poised to cut interest rates by at least a quarter-point, down from the 4.25% to 4.5% range where they have been held since December to between 4% and 4.25%, as Wall Street has placed 100% odds of a rate cut, according to CME’s FedWatch, with higher odds (94%) on a quarter-point cut than a half-point (6%) reduction. Fed governors Christopher Waller and Michelle Bowman, both Trump appointees, voted in July for a quarter-point reduction to rates, and they may dissent again in favor of a large cut alongside Stephen Miran, Trump’s Council of Economic Advisers’ chair, who was sworn in at the meeting’s start on Tuesday. It’s unclear whether other policymakers, including Kansas City Fed President Jeffrey Schmid and St. Louis Fed President Alberto Musalem, will favor larger cuts or opt for no reduction. Fed Chair Jerome Powell said in his Jackson Hole, Wyoming, address last month the central bank would likely consider a looser monetary policy, noting the “shifting balance of risks” on the U.S. economy “may warrant adjusting our policy stance.” David Mericle, an economist for Goldman Sachs, wrote in a note the “key question” for the Fed’s meeting is whether policymakers signal “this is likely the first in a series of consecutive cuts” as the central bank is anticipated to “acknowledge the softening in the labor market,” though they may not “nod to an October cut.” Mericle said he…
Share
BitcoinEthereumNews2025/09/18 00:23
FCA komt in 2026 met aangepaste cryptoregels voor Britse markt

FCA komt in 2026 met aangepaste cryptoregels voor Britse markt

De Britse financiële waakhond, de FCA, komt in 2026 met nieuwe regels speciaal voor crypto bedrijven. Wat direct opvalt: de toezichthouder laat enkele klassieke financiële verplichtingen los om beter aan te sluiten op de snelle en grillige wereld van digitale activa. Tegelijkertijd wordt er extra nadruk gelegd op digitale beveiliging,... Het bericht FCA komt in 2026 met aangepaste cryptoregels voor Britse markt verscheen het eerst op Blockchain Stories.
Share
Coinstats2025/09/18 00:33
Solana zakt onder 130 dollar terwijl whales verschuiven

Solana zakt onder 130 dollar terwijl whales verschuiven

De koers van Solana is onder de grens van 130 dollar gezakt. Tegelijkertijd verschuift de aandacht van een deel van de grote investeerders. Nieuwe meme coins in
Share
Coinstats2025/12/27 23:46