Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund, has agreed to acquire Moonton Games for $6 billion.

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Savvy Games Group, a subsidiary of Saudi Arabia's Public Investment Fund (PIF), has agreed to acquire Moonton Games from ByteDance for $6 billion. Moonton, known for Mobile Legends: Bang Bang with 1.5 billion installs and 110 million monthly active users, was originally acquired by ByteDance in 2021 for $4 billion. The deal continues Saudi Arabia's aggressive expansion into the global gaming industry, which also includes a pending $55 billion take-private of EA and a recent 5% stake in Capcom. Moonton's CEO and management team will remain in place post-acquisition. PIF has faced scrutiny over its ties to Crown Prince Mohammed Bin Salman amid human rights allegations, and reports suggest the fund may be running low on investable cash.

Savvy Games Group to acquire Moonton Games for $6 billion