In several tweets by video game analyst Daniel Ahmad, it was reported that Bytedance, the owner of TikTok, has acquired Moonton, the developers of the popular mobile game, Mobile Legends.
According to him, ByteDance sees gaming as a strategic vertical after establishing itself as the leader in short videos.
Update: ByteDance has officially announced that its video gaming unit Nuverse has indeed agreed to acquire Shanghai-based Moonton Technology.
In an internal memo, Yuan Jing, CEO of Moonton, said the company would operate independently from ByteDance after the acquisition, a source told Reuters on condition of anonymity as he is not authorized to speak to the press.
With TikTok having over 90 million monthly active users and over US$1 billion in revenue, this acquisition goes to show how gaming is the next platform ByteDance wants to delve into. This is not the first and only gaming-related company that they have been investing in recently.
Guess for ByteDance, they would have gotten good insight from the various titles featured on the #WhatToPlay hashtag of which, we incidentally featured Mobile Legends as well –
The question now is what are the terms of ByteDance’s acquistion of Moonton and what does the future hold for Mobile Legends?