ByteDance has officially acquired Moonton Technology. This was confirmed on Monday that ByteDance’s video games unit, Nuverse, would be expanded with the acquisition of Moonton.
The said deal was reported to the value of about $4 billion according to Reuters. This would help ByteDance compete with its Chinese counterpart, Tencent. According to ByteDance, the acquisition of Moonton would help provide “the strategic support needed to accelerate Nuverse’s global gaming offerings.” After that, the company didn’t comment further on the size of the acquisition.
On the other hand, the CEO of Moonton, Yuan Jing stated in a separate memo that they would operate independently after merging with ByteDance.
Previously, Tencent tried to make a bid to buy Moonton however ByteDance made an offer that matched Tencent. Tencent right now is not giving any statements with the market speculation. ByteDance now has an ace on their hands, with Mobile Legends at their disposal, to go against Tencent’s biggest MOBA (mobile online battle arena) games namely Honor of Kings and League of Legends.
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