Riyadh - Sharikat Mubasher: Savvy Gaming Group, the Saudi gaming and esports company owned by the Public Investment Fund (PIF), is in advanced talks with ByteDance to buy Shanghai Moonton Technology for more than $6 billion.
Both companies reached an initial agreement on the broad terms of the deal and are expected to conclude the deal during the first quarter (Q1) of 2026, people familiar with the matter told Reuters.
This transaction will mark ByteDance's major retreat from online games following its decision to restructure its gaming business in 2023.
Moonton is a global video game company focusing on game development, publishing, and e-sports. It operates offices in Indonesia, Malaysia, Singapore, the Philippines, Latin America, and China.
This deal aligns with Savvy Group’s strategy to drive long-term growth and innovation in the games and esports industry through strategic acquisitions, investments, and commercial ventures. It recently partnered with NEOM to nurture Saudi gaming startups through Savvy’s Nine66 Incubator Program and NEOM’s ‘Level Up’ Accelerator.
The PIF company also announced its strategic partnership with NMBRS, a Stockholm-based visual effects and cinematic studio, to help grow creative and technical skills in Saudi Arabia’s games and esports sector.