[UPDATE] ByteDance and Savvy Games have now confirmed the deal for Moonton, which is the No. 6 largest buyout in the history of video games, valued at more than $6 billion USD. ByteDance paid $4 billion for Moonton in 2021, so it made a quick $2 billion on the deal.
Moonton CEO Zhang Yunfan will remain CEO when the deal closes, and that’s expected to happen in the coming months, Savvy told SCMP.
The original story is below.