Daily Management Review

ByteDance buys game developer Mooton Technology


Chinese company ByteDance, which owns video service TikTok, is buying game developer Mooton Technology, Reuters reported, citing a statement from the company.

ByteDance buys game developer Mooton Technology
Terms of the deal have not been disclosed, but according to Reuters, ByteDance has made a significant investment in the developer, which is valued at $4 billion on the basis of the deal. Following the deal, Moonton will continue to exist as a separate company.

Moonton, founded in 2014 by a former employee of Chinese internet corporation Tencent, is primarily known for its video game Mobile Legends: Bang Bang, particularly popular in Southeast Asia. It is a multiplayer online battle arena (MOBA) game, a genre in which Mobile Legends competes with Tencent's popular games Honor of Kings and League of Legends. Tencent has repeatedly sued Moonton, accusing it of copying League of Legends and copyright infringement, and Tencent has also tried to buy the company.

ByteDance is looking to increasingly enter the video game market. It already has a gaming division, Nuverse, through which it is buying Moonton. Last October, the company launched online casual game shop Danjuan Games and game publisher Pixmain.

source: reuters.com