November 27, 2022

Nuverse Moonton technology 4b – ByteDance’s video games unit

Nuverse Moonton technology 4b – Moonton, the firm behind Mobile Legends: Bang Bang, is reportedly being acquired by ByteDance’s video games division Nuverse. According to Reuters, ByteDance, the firm behind TikTok, has agreed to acquire Moonton Technology through its video games division Nuverse.

Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings, according to a statement from ByteDance. “Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings,” the company said.

According to the article, Moonton’s CEO, Yuan Jing, stated in an internal message that the firm would function independently of ByteDance following the acquisition.

Two sources told Reuters that the transaction valued the gaming firm at approximately $4 billion. ByteDance, the owner of TikTok and the related Chinese short video platform Douyin, has made significant gains in the video games industry, putting it in direct conflict with Tencent.

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Moonton “provides the strategic assistance needed to advance Nuverse’s global gaming services through cross-team collaboration and drawing on lessons and insights from its own quick growth,” ByteDance said in a statement, declining to specify the amount of the acquisition.

According to two sources familiar with the issue, Tencent, China’s largest video game and social media business, made a proposal for Moonton, but it was matched by ByteDance last week.

Tencent declined to comment on market rumors when approached by Reuters. By acquiring ByteDance, Tencent now has a MOBA game that might compete with Honor of Kings and League of Legends, both of which are cash cows for Tencent. Tencent and Riot Games have filed various lawsuits against Moonton for alleged copyright infringement since 2017.

Nuverse Moonton technology

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Nuverse Moonton technology
Nuverse Moonton technology