China Approves Savvy’s Acquisition of Moonton Without Conditions in Deal Worth More Than $6 Billion
Key Facts
China’s State Administration for Market Regulation approved Saudi Electronic Games’ acquisition of Moonton without conditions in a deal valued at more than $6 billion, according to the regulator’s listing published on November 6. The regulator named Saudi Electronic Games Holding, Moonton Holdings and Shanghai Moonton Technology as the parties to the deal. It included the approval in its list of transactions that received unconditional clearance between October 26 and November 1. The regulator completed its review of the deal on October 29, before publishing the list several days later. The decision follows ByteDance’s agreement in March 2026 to sell Moonton to Savvy Games Group, transferring a prominent game developer to a group backed by Saudi Arabia’s Public Investment Fund.
The acquisition centers on Moonton, the developer known for “Mobile Legends: Bang Bang” and its spin-off games, including “Magic Chess: Go Go,” according to Pocket Gamer. Moonton said the game has surpassed 1.5 billion installs and has more than 110 million monthly active players. The company also said the game is among the 10 most-played titles in more than 80 countries. These figures give a sense of the international reach of the product Savvy is acquiring and the game’s standing in Moonton’s portfolio. Its player base and reach underscore the studio’s importance in the mobile gaming market, although these indicators alone do not determine the deal’s commercial value or terms.
ByteDance acquired Moonton in 2021 for about $4 billion as part of its expansion into the gaming market at the time, according to Pocket Gamer. About five years later, the company agreed in March 2026 to sell the studio to Savvy in a deal valued at more than $6 billion. The difference between the figures reflects valuations for two separate transactions in different years and does not, by itself, explain why the company’s value changed. In an internal message, Moonton Chief Executive Zhang Yunfan said the company would become “a wholly owned subsidiary of Savvy Games Group,” adding that Savvy is a subsidiary of the Public Investment Fund. The CEO’s statement sets out the planned ownership structure after the deal closes, while the Chinese regulator’s decision confirms the regulatory approval in China.
Moonton’s tournament performance highlights the scale of its games’ presence in mobile esports. The company said the M7 World Championship, held in January 2026, exceeded a peak of 5.68 million concurrent viewers. Moonton described the tournament as the most-watched event in mobile esports history. It also said “Mobile Legends: Bang Bang” made its debut at the Asian Games in September 2026. These indicators link the game to a broad audience as well as to official competitions and tournaments, providing commercial context for the studio’s acquisition.
The Chinese listing confirms unconditional approval for the deal, but does not establish that this is the final step before closing or that all closing conditions have been met. The regulator’s announcement did not specify a date for the transfer of ownership or the deal’s next timeline. What is confirmed so far is that the regulator’s review ended on October 29 and the approval appeared in the list published on November 6. The information disclosed here does not detail any further steps required to complete the acquisition. The next step will become clear when the parties announce the closing or completion of any remaining procedures.