ByteDance has reportedly sold its gaming studio Moonton to Savvy Games Group, a company backed by a Saudi wealth fund, in a deal valued at $6 billion.

Savvy Games Group, owned by Saudi Arabia's Public Investment Fund, has agreed to purchase ByteDance's game studio Moonton for an estimated $6 billion.

ByteDance, the owner of TikTok, has reportedly sold its gaming unit Moonton to Saudi Arabia for $6 billion in a significant merger and acquisition deal.

ByteDance is reportedly aiming for a 'strategic partnership' as part of its sale of gaming company Moonton, according to its gaming chief.

ByteDance is reportedly in the process of selling its gaming unit, Moonton, to a firm owned by Saudi Arabia's Public Investment Fund.

Savvy Games given war chest of tens of billions of dollars by Public Investment Fund