ByteDance is negotiating with several companies to sell its assets in the video game industry. Tencent could take over this division of the company
ByteDance, the parent company of TikTok, is in talks to sell its gaming assets. Tencent may take over this division of the company said it is in talks with several potential buyers of its gaming assets, including the world’s largest video game company Tencent
Discussions are ongoing but no agreement has yet been reached, a ByteDance spokesman told Reuters.
ByteDance and Tencent are discussing a deal involving several popular video games published by ByteDance’s gaming unit Nuverse, including «Crystal of Atland» and «Earth: Revival.»
In November, ByteDance announced it would restructure Nuverse and exit the gaming business to focus on other core business segments, five years after its entry into the $185 billion global video game industry. .
The firm halted work on unannounced games and planned to part ways with already released titles. In November, Reuters reported that ByteDance was looking for buyers for its other gaming unit, Moonton, which it acquired in 2021.
ByteDance’s relationship with Tencent in gaming has gotten better after a tumultuous period of competition. Tencent has made heavy use of ByteDance’s advertising network to promote its latest game «DreamStar,» Reuters reported in December.
