For Saudi Arabia, 50 billion is not enough: after buying EA, it's the turn of a mobile giant
Saudi Arabia's sovereign wealth fund, through Savvy Games Group, continues its aggressive expansion in the digital entertainment sector. Following a significant acquisition of Electronic Arts for $50 billion, the fund is now reportedly in negotiations to purchase Moonton Technology, a prominent mobile gaming developer. This move signals a strategic deepening of Saudi Arabia's investment in the global gaming landscape, particularly focusing on the rapidly growing mobile segment. The potential acquisition of Moonton Technology for an estimated $6 to $7 billion centers on its flagship title, "Mobile Legends: Bang Bang." This popular mobile MOBA boasts over a billion global downloads and holds a dominant position in the Southeast Asian market. Despite facing intellectual property disputes and substantial legal settlements with Riot Games, Moonton has maintained robust growth, highlighting its resilience and market penetration in regions where console and PC gaming access may be more limited. This dual strategy, encompassing both established AAA developers like EA and successful mobile studios like Moonton, underscores Saudi Arabia's ambition to secure a commanding influence in digital culture. By investing heavily in these major players, the kingdom aims to gain access to massive user bases and tap into the lucrative revenue streams generated by global digital entertainment platforms. The scale of these investments indicates a long-term vision for digital sovereignty and cultural outreach through technological and entertainment industries.
Curated and translated by Europe Digital for our multilingual European audience.
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