ByteDance has agreed to sell Moonton to Savvy Games Group for about $6 billion, shifting its focus to generative AI. The Beijing company will keep Moonton’s management and offer staff incentives. Savvy, a subsidiary of Saudi Arabia’s $1 trillion Public Investment Fund, is central to the kingdom’s aggressive push to become a global leader in video games and esports.
Source: https://economictimes.indiatimes.com/tech/technology/bytedance-agrees-to-sell-moonton-to-savvy-games-for-6-billion/articleshow/129698576.cms
