In a relentless pursuit to solidify its position as a dominant force in the global esports arena, Saudi Arabia shows no signs of slowing down. A source recently claimed the Middle East giant has set its sights on the acquisition of Moonton, the foremost mobile MOBA publisher, marking its latest move to shape the esports landscape.
Reuters revealed that ByteDance, the owner of both TikTok and Moonton, is currently engaged in discussions regarding the potential sale of Moonton, including one big Saudi-based firm. This development comes two years after ByteDance’s acquisition of the Shanghai-based studio in a substantial deal valued at $4 billion.
The decision to explore a sale apparently stems from ByteDance’s dissatisfaction with Moonton’s performance since its 2021 acquisition. While talks are still in their early stages, a sale is not guaranteed. Nevertheless, ByteDance aims to swiftly conclude discussions to reallocate resources towards its core business.
ByteDance’s foray into the gaming realm has encountered challenges. Founded in 2014, Moonton achieved significant success with MLBB but has yet to replicate such a hit. During this period, ByteDance and Moonton launched their first MLBB-themed NFT collection, The Aspirants, which only saw mild success.
Beyond MLBB, ByteDance disbanded its Shanghai-based game development unit, 101 Studio, last year. This month, ByteDance announced a restructuring of its virtual reality unit, Pico, emphasizing a shift toward hardware and resulting in job cuts in software and games-related sectors.
Anticipating a promising future for the video game industry in the MENA region, Saudi Arabia’s potential acquisition of Moonton is poised to be an intriguing new chapter in esports. If the deal materializes, it is expected to ensure sustainability and heightened viewership. This optimism finds validation in recent successes such as the Riyadh Masters 2023, solidifying the region’s prominence in the esports landscape with remarkable viewership figures this year.
