ByteDance subsidiary Nuverse has acquired developer and publisher Moonton Technology.
Reuters reported that the deal had valued the Shanghai-based studio at $4 billion. However, ByteDance did not disclose the size of the acquisition.
Moonton CEO Yuan Jing has clarified that the company will maintain its independence from ByteDance and its games arm once the agreement has been complete.
“Through cross-team collaboration and drawing on lessons and insights from its own rapid growth, Moonton provides the strategic support needed to accelerate Nuverse’s global gaming offerings,” said ByteDance.
Founded in 2014 by former Tencent employees, and is best known for its smartphone MOBA Mobile Legends: Bang Bang, which was released in 2016.
In recent years, the TikTok owner has made it clear that it has a keen interest in the mobile games market.
Last November, not only did ByteDance launch a mobile games store, but it also launched a new publishing arm.
Back in March 2020, ByteDance’s martial arts-inspired title, Combat of Hero, stormed to the top of the charts in Japan, maintaining its stronghold for four consecutive days.