The Chinese business ByteDance, which owns Tiktok, is considering selling Moonton Technologies, a subsidiary company. The developer of the wildly successful smartphone game smartphone Legends: Bang Bang, Moonton, is the entity behind the game.
In the gaming community, Mobile Legends is very popular, particularly in Asia. It has a large fan base and professional leagues. In 2021, ByteDance paid $4 billion to acquire Moonton Technology in an attempt to gain significant traction in the gaming market. It was disappointing, though, that Moonton didn’t release any more games following the takeover.
According to recent speculations, ByteDance may be selling Moonton Technology. It has been difficult for them to get into the gaming industry, therefore they want to concentrate on their core business. Recently, another ByteDance company had to fire a few staff due to sluggish sales. Additionally, ByteDance was forced to close one of its game development studios last year.
Rumor has it that some businesses are already discussing the possibility of purchasing Moonton. It is said that one Saudi Arabian corporation is taking part in the talks. But nothing is official yet, and it’s still early.
Given the recent acquisitions of other game publishers and creators, this prospective sale comes at an intriguing moment. For instance, Activision Blizzard was purchased by Microsoft for an astounding $68.7 billion!
Regarding this story, neither Moonton nor ByteDance have provided an explanation or provided any confirmation. Thus, we’ll just have to wait and see.