ByteDance says its video games unit will acquire Mooton Technology

FILE PHOTO: A man walks by a logo of Bytedance, the China-based company which owns the short video app TikTok, at its office in Beijing, China July 7, 2020. REUTERS/Thomas Suen

(Reuters) - ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based Mooton Technology, as it seeks to further expand into the video games business.

The acquisition of the video games studio come as ByteDance, the owner of TikTok and the similar Chinese short video platform Douyin, has made sizeable inroads into the video games business, putting it in direct competition with China's Tencent.