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It is reported that ByteDance is seeking to sell Mutong Technology for US$5 billion, having purchased it for US$4 billion.
It is reported that ByteDance is seeking to sell Mutong Technology for US$5 billion, having purchased it for US$4 billion.
News from this site on November 21, Reuters said earlier this month that people familiar with the matter revealed that TikTok parent company ByteDance has been meeting with potential buyers to discuss the sale of its gaming unit Muton Technology. Matter.
The latest news from Snow Leopard Finance Agency states that ByteDance is seeking to sell Mutong Technology for a price of no less than US$5 billion (note on this site: currently about 35.85 billion yuan), For this purpose, Goldman Sachs was hired as a financial advisor (FA, Financial Advisor) to help find and contact potential buyers.
According to the report, two independent sources stated that Savvy Games Group (hereinafter referred to as SGG), a subsidiary of the Saudi sovereign wealth fund PIF, is one of the potential buyers of this transaction. At present, both parties There have been at least one round of contacts on the matter, but no consensus on a deal price has been reached.
The report also mentioned that Byte hopes that the transaction price will be higher than the US$4 billion (currently about 28.68 billion yuan) when it was acquired two years ago. However, SGG believes that based on Mutong’s current performance, Byte’s asking price is too high.
Note from this site: Two years ago, ByteDance acquired Shanghai-based Mutong Technology Studio for US$4 billion. Mutong Technology has developed popular mobile games "Magic Rush: heroes", "Dragon Battle", "Endless Showdown", etc.
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