Surprise of all surprises!
Chinese technology company ByteDance, owner of TikTok app now owns Mobile Legends: Bang Bang developer, Moonton.
According to reports, the acquisition was valued at a whooping $4b through ByteDance’s gaming unit, Nuverse.
“Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings,” ByteDance said in a statement.
Moonton CEO Yuan Jing in a statement said that the company, despite being owned by ByteDance, will operate as an independent entity.
Tencent, another Chinese company was also one of the conglomerates that attempted to acquire Moonton, however, their offer was matched by ByteDance last week.
Nuverse, the unit which acquired the company started its operations in 2019 and has published titles such as Strike Royale, Eden no Tobira, and Arena of Evolution: Red Tides, among others.
Despite being in the industry for only two years, Nuverse had just launched its official website February of this year.
The Moonton acquisition was definitely a smart business move for ByteDance as Moonton’s MLBB is now growing more than ever, with world events that maintain partnerships with big brands such as Samsung, Razer, Secretlab, and Singtel.