ByteDance said on Monday its video games unit Nuverse has agreed to acquire Shanghai-based gaming studio Moonton Technology, as it seeks to further expand into the video games business.

TikTok owner ByteDance is discussing the sale of its gaming unit Moonton Technology with potential buyers, two years after it acquired the Shanghai-based studio in a deal that valued it at $4 ...

ByteDance Ltd. plans to install a new chief at subsidiary Shanghai Moonton Technology Co., after abandoning a plan to sell the most valuable gaming asset it had acquired to challenge Tencent ...

Moonton's unremarkable performance since its acquisition is one of the reasons behind ByteDance’s desire to sell, people told Reuters. ByteDance has met with other setbacks in its gaming expansion.

ByteDance is acquiring Moonton Technology for an undisclosed amount as the company takes its gaming ambitions to Southeast Asia, where it hopes to gain an edge over rival Tencent.