Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 15 (Reuters)-Byte Jump, the parent company of TikTok, has been meeting with potential buyers to discuss the sale of its gaming division, Muki Technology, according to a person familiar with the matter.

At least one company based in Saudi Arabia was among the companies that Byte Jump met to discuss the sale of the company, two people familiar with the matter said. One of the two men said the negotiations were still at an early stage and there was no guarantee that an agreement could be reached. The plan comes at a time when byte jumps choose to focus resources on its core business, the person added.

People familiar with the matter also said that Mu pupil's performance since its acquisition has been lacklustre, which is one of the reasons why byte beat wants to sell.

Byte Jump declined to comment on the news.

Two years ago, Byte Jump bought the Shanghai-based pupil technology studio for $4 billion (CTOnews.com Note: currently about 29.08 billion yuan). Pupil technology has developed popular mobile games "Magic Rush:heroes", "Battle of the Dragon", "endless showdown" and so on.

According to Aiqingcha, Shanghai Mu pupil Technology Co., Ltd. was established in 2014, the legal representative is Yuan Jing, with a registered capital of about 1.22 million yuan, and is 100% owned by Beijing Lightyear Information Technology Co., Ltd. and Lightyear is a byte-beating game business brand.

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