Saudi Arabia’s Savvy eyes next big move with ByteDance talks

Saudi Arabia’s Savvy Games Group, fresh off a $55 billion takeover of Electronic Arts, is getting ready for its next blockbuster deal.

The PIF-backed firm, centerpiece of Crown Prince Mohammed bin Salman’s strategy for dominance in the global gaming market, is in talks with TikTok owner ByteDance to buy its Shanghai Moonton Technology unit, Bloomberg reports.

Along with the Saudi sovereign wealth fund, Savvy was backed by investors Silver Lake and Jared Kushner’s Affinity Partners on the EA deal.

If Savvy succeeds in buying Moonton, the acquisition would add one of the world’s most popular mobile developers – creator of Mobile Legends: Bang Bang – to a portfolio that already includes some of gaming’s biggest console and PC properties.

Extending control from popular titles to fast-growing mobile hits could help Saudi Arabia influence how and what billions of gamers play. Bloomberg notes, however, that negotiations are still at an early stage, and as with an earlier failed attempt, the deal could unravel again.