ByteDance is in advanced talks to sell its Shanghai-based gaming studio Moonton Technology to Saudi Arabia’s Savvy Games Group, Bloomberg reported, citing people familiar with the matter. The Chinese tech giant acquired Moonton in 2021 for about $4 billion in a bid to expand into core gaming markets, but the unit has since failed to meet performance expectations. ByteDance previously sought to offload Moonton in late 2023, though negotiations with Savvy stalled over valuation differences, the report said. The companies have now resumed discussions, but the talks are ongoing and a deal remains uncertain. If completed, the acquisition would strengthen Savvy’s push to broaden its presence in the global mobile gaming market. [Bloomberg]
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