Rumors suggest that several companies are expressing interest in acquiring Moonton from ByteDance.
One notable contender in talks for the acquisition is reported to be from Saudi Arabia. Sources indicate that no firm agreement has been reached between the two companies as discussions are still in the early stages.
The exact reasons behind ByteDance’s decision to sell Moonton remain unconfirmed, as the company has not officially commented on the rumors. However, according to Reuters, ByteDance aims to concentrate on its core business.
Additionally, since its establishment in 2014, Moonton has not replicated the success of Mobile Legends: Bang Bang with subsequent game releases.
Moonton’s perceived average performance has led ByteDance to opt for a sale to another party. ByteDance acquired Moonton two years ago in a deal valued at USD 4 billion or approximately IDR 62 trillion.
At that time, the acquisition of Moonton was seen as ByteDance’s significant commitment to enter the highly promising gaming industry.
ByteDance has been scaling back its game division operations recently. Last year, the company disbanded 101 Studios, a game development unit based in Shanghai, China.
This month, ByteDance is set to overhaul the virtual reality (VR) unit of Pico by downsizing the software division and roles related to gaming, shifting its focus primarily to hardware.