Bytedance — the company behind the massively popular video sharing application, TikTok — is reported to have acquired Shanghai-based gaming studio Moonton Technology, which is popularly known for a multiplayer online battle arena (MOBA) game, Mobile Legends.
The news of Bytedance acquiring Mobile Legends comes at a time when TikTok has lost its charm in India. While confirming the deal, Bytedance expressed their interest in getting into the game industry.
If they are really interested in getting into the gaming industry then they have made the right decision to acquire Mobile Legends, which has already been downloaded by more than 100 million users on Google Play Store. The game has more than 90 million monthly active users.
As per a report in Hindustan Times, Bytedance has acquired Moontoon Technology at around $4billion.
Notably, this is not the only deal that Bytedance has planned for the future. They have many things in the pipeline and now being carried out slowly. According to a report, Bytedance has more than 2000 employees in its company and they will expand it further in the times to come.
“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,” ByteDance said in a statement.
The CEO of Moonton, Yuan Jing when asked about the acquisition, said that the company would operate independently from ByteDnance following the acquisition, a source is quoted as saying to Reuters.
The news of Bytedance and Moontoon Technology crossover was shared by a renowned analyst in China, Danial Ahmed. He took to Twitter and informed his fans that Bytedance is all set to get into the gaming industry and has already acquired one of the most popular mobile games, Mobile Legends.
Bytedance, the owner of TikTok, has acquired Moonton, the developers of Mobile Legends.
This is one of the biggest acquisitions of the year and shows how Bytedance is serious about entering the core gaming space
Mobile Legends is one of the most popular smartphone MOBA games pic.twitter.com/9GcqLCB9Fj
— Daniel Ahmad (@ZhugeEX) March 22, 2021
Since Mobile Legends has acquired by Bytedance, they would not leave any stone unturned to give a tough competition to Tencent’s Honor of Kings and League of Legends.
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