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

CTOnews.com, Nov. 21 (Reuters)-according to people familiar with the matter, TikTok's parent company, Byte Jump, has been meeting with potential buyers to discuss the sale of its gaming unit, Muki Technology, Reuters said earlier this month.

According to the latest news from Snow Leopard, Byte Jump is seeking to sell pupil technology for no less than $5 billion (CTOnews.com Note: about 35.85 billion yuan) and has hired Goldman Sachs as a financial adviser (FA,Financial Advisor) to help find and contact potential buyers.

Reported that two independent sources said that the Saudi sovereign wealth fund PIF's Savvy Games Group (hereinafter referred to as SGG) is one of the potential buyers of the deal, the two sides have conducted at least one round of contacts on this matter, but have not yet reached a consensus on the transaction price.

The report also mentioned that byte hopes the transaction price will be a premium to the $4 billion (currently about 28.68 billion yuan) it was acquired two years ago. But SGG believes that with the current performance of pupil, the asking price of bytes is too high.

CTOnews.com note: two years ago, Byte Jump bought the Shanghai-based mu pupil technology studio for $4 billion. Pupil technology has developed popular mobile games "Magic Rush:heroes", "Battle of the Dragon", "endless showdown" and so on.

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