ByteDance, the owners of TikTok in China, decide to take on Tencent. For those of you who might not know, Tencent is the largest video games publisher in the World. But who doesn't love a little competition? In recent news, ByteDance has acquired the massive mobile gaming studio Moontoon. Currently, it's estimated that the mobile gaming industry has a market of roughly $90 billion. This is surely a move to re-position ByteDance and diversify their portfolio of companies, very similarly to their friends over at Tencent.
2021, the year of Mergers & Acquisitions in the gaming industry. ByteDance on Moontoon, and now the latest acquisition we've heard is Microsoft on Discord! Crazy times. The good news is this race of M&A in the gaming industry should lead to several power house companies with endless tools and workforce at their hands to deliver some pretty unbelievable games in the coming years. Cross your fingers on this one, because we've only scratched the surface of game development.