Saudi Arabia's sovereign wealth fund continues to increase its influence in the gaming industry. Following the acquisition of EA, its portfolio may also include the developer of one of the most popular mobile MOBAs in the world.
The deal to sell the Chinese studio Moonton, the developer of Mobile Legends: Bang Bang, is close to completion. According to Reuters, the buyer will be Savvy Games Group — the gaming division of Saudi Arabia's sovereign wealth fund Public Investment Fund (PIF). The deal is estimated at $6-7 billion, and the final agreement is expected to be signed by the end of March 2026.
Negotiations between ByteDance and Savvy Games Group began in the fall of 2025. At that time, a potential sale was discussed, but now, according to agency sources, the parties have agreed on key parameters. The specific terms of the deal are not disclosed.
Moonton was founded in 2014 and is best known for Mobile Legends: Bang Bang — one of the most popular mobile MOBAs. According to the company, the game has been downloaded more than 1.5 billion times, and the monthly audience exceeds 110 million users. The project remains one of the main competitors of Arena of Valor and League of Legends: Wild Rift, especially in Southeast Asia, where MLBB has become part of the esports scene and a cultural phenomenon.
ByteDance acquired Moonton in 2021 for $4 billion, ahead of Tencent. However, already in 2023, the company began to consider selling the asset, deciding to reduce its presence in the gaming segment and focus on other areas.
For Savvy Games Group, the purchase of Moonton will be another link in the large-scale expansion of the PIF fund, which this year is also participating in the acquisition of Electronic Arts. Riyadh is consistently investing in game development, seeking to turn Saudi Arabia into one of the world's centers of the gaming industry.
