ByteDance, the owner of the TikTok platform, is negotiating the sale of its gaming assets with Tencent as part of its restructuring plan.
As a result of these discussions, ByteDance plans to sell Nuverse, a subsidiary video game publisher, as well as gaming brands such as Crystal of Atland and Earth: Revival. While an agreement has not yet been reached, the Chinese giant Tencent is the main candidate to acquire these assets.
ByteDance’s decision to withdraw from the gaming market was announced in November 2023. The company’s restructuring plan involved layoffs of hundreds of employees, with a focus on long-term strategic growth areas.
It is also worth mentioning that ByteDance has begun seeking buyers for its subsidiary Moonton Technology, which is involved in game development. This is another step in the company’s restructuring and transformation process.
Source: [Reuters](https://www.reuters.com/technology/exclusive-bytedance-in-talks-sell-tiktok-gaming-assets-tencent-sources-2024-01-09)
Frequently Asked Questions (FAQ):
1. Who owns the TikTok platform?
ByteDance is the owner of the TikTok platform.
2. Which gaming brands does ByteDance plan to sell?
ByteDance plans to sell gaming brands such as Crystal of Atland and Earth: Revival.
3. Who is the main candidate to acquire ByteDance’s gaming assets?
The main candidate to acquire ByteDance’s gaming assets is the Chinese giant Tencent.
Definitions:
1. Restructuring
Restructuring is the process of transforming the organizational structure to improve efficiency and achieve long-term goals.
2. Gaming brands
Gaming brands are the names and logos of games or game series that identify and differentiate them from other products in the market.
3. Gaming assets
Gaming assets are resources related to the gaming industry, such as gaming brands, game development studios, technologies, and game publishers.
Source: [Wikipedia](https://en.wikipedia.org/wiki/Restructuring)
The source of the article is from the blog anexartiti.gr