JAKARTA - ByteDance, the parent company of TikTok, has officially acquired Moonton Technology, as the developer of the game Mobile Legends: Bang Bang. The second deal is worth nearly US $ 4 billion or around Rp. 57 trillion.
This acquisition shows ByteDance's seriousness in expanding its business to move into the video game sector, Nuverse. It will also tighten its competition with fellow Chinese technology companies Tencent Holdings.
"Through cross-team collaboration and leveraging lessons and insights from its rapid growth, Moonton provides the strategic support needed to accelerate the development of Nuverse games globally," said ByteDance, as quoted by The Verge.
In an internal memo, Moonton's CEO, Yuan Jing, said the company would operate independently from ByteDance following the acquisition. Long before being acquired by ByteDance, it turned out that Tencent had made an offer to buy Moonton but the offer was rejected.
With this acquisition, ByteDance can automatically compete with Honor of Kings and League of Legends games. Given the multiplayer online battle arena (MOBA) players around the world are growing rapidly.
Moonton was founded by former Tencent employees. Unlike other developers who have released several game titles, Moonton focuses on one of their games and maximizes Mobile Legends.
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