China-based technology company ByteDance has acquired Moonton, the developer of the Mobile Legends game.
China-based technology company ByteDance announced that it has acquired Moonton, the developer of the Mobile Legends game.
ByteDance, which has made a name for itself especially with TikTok and later became an internet giant, wants to continue its impact in the mobile gaming industry as well. In a statement made by ByteDance, it announced that it has acquired Moonton Technology, the developer of a League of Legends-like game called Mobile Legends.
According to the information provided by the sources, ByteDance paid $ 4 billion to buy Moonton. With this purchase, it is thought that it will compete with ByteDance with another Chinese internet company, Tencent.
Moonton CEO Yuan Jing stated that after the completion of the acquisition, Moonton Technology will continue to operate as an independent company under the roof of ByteDance. Although the Moonton CEO has made such a statement, ByteDance gives rise to the idea that at some point, he will be able to put pressure on Moonton to compete more tightly with Tencent.
Moon Technology is the company behind Mobile Legends, one of the most popular MOBA games in the mobile gaming world, and ByteDance could be a fierce rival to Tencent’s League of Legends: Wild Rift and Honor of King games with this move.
For now, ByteDance has not shared the details of its acquisition of Monoton Technology. Moonton ie Tencent, founded by a former Tencent employee, was also known to be interested and even made an offer to buy. Apparently, this offer was found unreasonable by Mooton and the ByteDance offer was more favorable.