Savvy to Buy ByteDance Studio Moonton for $6 Billion

Savvy Games Group has agreed to buy the Moonton studio from ByteDance Ltd. as the Saudi Arabian firm builds up its mobile gaming assets. The deal values Moonton at $6 billion, people familiar with the matter said, asking not to be identified because the terms are private. The transaction is expected to be finalized in the near future, Moonton Chief Executive Officer Zhang Yunfan said in an internal memo reviewed by Bloomberg News. Savvy will leave the company’s management in place and employees will be of ...