China's ByteDance mulls sale of gaming studio behind Mobile Legends

ByteDance, the company behind TikTok, acquired gaming studio Shanghai Moonton Technology Co. in 2021 at a valuation of about US$4bil. — Reuters

BEIJING (Bloomberg): ByteDance Ltd. is considering selling gaming studio Shanghai Moonton Technology Co., people familiar with the matter said, as the TikTok owner looks to streamline its operation and focus on core businesses.

The startup is working with an adviser to gauge interest from potential buyers for the studio behind popular game Mobile Legends: Bang Bang, the people said. ByteDance acquired Moonton in 2021 at a valuation of about US$4bil, the people said.