Saudi Arabian tycoons acquire Moonton for over $6 billion: Company structure remains unchanged, and ZHANG Yunfan remains CEO

On March 20th, Muti Technology issued an internal letter, announcing that the company has been acquired by Savvy Games Group (referred to as Savvy), a gaming giant wholly owned by the Saudi Arabian sovereign wealth fund.

Since the adjustment of ByteDance's gaming business, there have been rumors about this deal for a long time, and it took on a general shape by the end of last year. The two parties officially started negotiations in the second half of 2025 and reached a consensus on the core terms in early 2026. Finally, Savvy acquired all of Muti's equity at a price of over $6 billion.

This deal comes only five years after ByteDance acquired Muti - the acquisition price at that time was $4 billion. If we take into account the negotiation and discussion time between the two parties, the interval between the acquisition and the sale may be even shorter.

Judging from the internal letter, after this deal, Muti's management structure will remain unchanged, and Zhang Yunfan will continue to serve as Muti's CEO. On this basis, the company will also set up a number of incentive programs based on employees' past contributions and future performance.

The following is the full text of the internal letter:

Hello everyone. Recently, the company signed an agreement with Savvy Games Group, and the two parties will complete the deal in the coming period. After the deal is completed, Muti will become a wholly - owned subsidiary of Savvy. Meanwhile, Muti's management structure will remain unchanged, and Muti will still be a company headquartered in Shanghai. I will also continue to serve as Muti's CEO and lead the company forward together with the management team.

This deal has been carefully considered and discussed. "Creating exciting experiences for global players" is Muti's unchanging mission. Since its launch in 2016, "Mobile Legends: Bang Bang" has been loved by many players. Based on this, we have also built a professional and ecologically rich e - sports event system. This is in line with Savvy's mission of "promoting the long - term development and innovation in the gaming and e - sports fields" and its e - sports plan. We believe that through cooperation with Savvy, Muti will usher in broader development opportunities, bringing better gaming experiences to more global players.

After the deal is completed, based on past performance contributions, we will provide a number of incentive plans for Muti's employees, including accelerating the vesting and distribution of some long - term incentives granted in the past. At the same time, we will also launch new and attractive incentive programs based on future performance. The specific situation will be communicated to you by each leader and HRBP.

In the past two years, we have achieved good results. I believe we will create an even better future together!

Zhang Yunfan