Bytedance, the company that owns Tiktok, has reportedly acquired Moonton, the developer of the MOBA game, Mobile Legends. This acquisition process involves Nuverse, Bytedance's division company that focuses on the gaming and technology industry with an estimated cost of up to US $ 4 billion.
Reported by Reuters, Bytedance stated "Through collaboration between teams and a deep understanding of the development. Moonton can support the strategic growth acceleration that Nuverse needs.
Bytedance, the owner of TikTok, has acquired Moonton, the developers of Mobile Legends.
— Daniel Ahmad (@ZhugeEX) March 22, 2021
This is one of the biggest acquisitions of the year and shows how Bytedance is serious about entering the core gaming space
Mobile Legends is one of the most popular smartphone MOBA games pic.twitter.com/9GcqLCB9Fj
Since 2018, Bytedance has acquired 11 other gaming companies. Daniel Ahmad, a game analyst, said this acquisition is one of Bytedance's biggest acquisitions in the gaming industry and shows their seriousness in entering the gaming industry.
In his internal memo, Yuan Jing, CEO of Moonton, said Moonton will continue to move independently from Bytedance after this acquisition.
To this day, Mobile Legends is still one of the most popular mobile games in Southeast Asia. No wonder Bytedance acquired Montoon at a fantastic value.
