ByteDance says its video games unit will acquire Mooton Technology

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.

“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,” ByteDance said in a statement.