IGT Signs Patent Cross-License Agreement with Novomatic
The holder of the largest slot game feature patent portfolio in North America, International Game Technology (IGT), has announced a deal with Novomatic Group, a full service provider in all segments of the gaming industry.
Under the terms of this patent cross-license agreement, Novomatic can offer games, including patented game features from the IGT portfolio and pay licensing fees for it to IGT. Financial terms of the agreement have not been disclosed.
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Being a global leader in gaming, IGT offers a wealth of premium content, substantial investment in innovation, in-depth customer intelligence, operational expertise and leading-edge technology.
An omnipresent force with over 12,000 employees, IGT has a well-established local presence and relationships with governments and regulators in more than 100 countries. Since the merger of the legacy IGT business in the United States in 2014 and GTech SpA, Italy-based supplier, the IGT has been working on building a network of cross-patent licensing agreements with other casino equipment suppliers.
The officials at IGT are satisfied with Novomatic joining their huge family of gaming industry leaders who create a vast resource of game features patents. IGT Senior Vice President and General Counsel, North America Gaming &Interactive, Michael Prescott issued a statement when welcoming Novomatic on board:
“IGT’s collaborative effort to build upon North America’s largest slot game feature patent portfolio now encompasses a global patent pool that we believe can foster continued industry-wide innovation.”
About Novomatic
Novomatic Group has had a strong presence in South American and European markets and this deal will give them access to compelling product features that have already proven to be successful in North America and international markets.
Not only will Novomatic expand their creative capacity with this vast portfolio of patented game features but also contribute to their global expansion strategy. Novomatic is one of the biggest international operators of gaming technologies and has over 25,000 employees worldwide.
Through its many subsidiaries, it’s fully active in all segments of the gaming, operates with more than 260,000 terminals and provides solutions to more than 70 countries.
In January, Novomatic Group finished the acquisition of 52% of Ainsworth Game Technology Ltd, Australian slot machine provider. This acquisition was strategically very important for their expansion strategy and the agreement with IGT will only support their expansion in the region.
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