International Game Technology (IGT) has revealed that it has reached a cross-licensing deal with Aristocrat Leisure Limited, which is considered as a key one, since it covers some features and system patents that are innately related with gaming.
The terms of the agreement have not been officially revealed. Still, the American company, which currently has a number of offices on the territory of the UK and is known as one of the most popular manufacturers and distributors of various gaming technology and more specifically, slots machines, shared that the “outstanding litigation” between the two companies would be settled under the terms of the agreement.
The Chief Executive Officer of the Gaming & Interactive operations of IGT in North America – Renato Ascoli – commented on the deal, saying that the entire team of the company was very happy with the agreement reached with Aristocrat Leisure Limited, as it would provide the US-based company with the chance to maintain its leadership position in the market. According to Mr. Ascoli, IGT’s investment and patent portfolio are the biggest ones in the entire gaming business, and the latest deal of the company came as a proof that both IGT and Aristocrat were interested in making investments and preserving the intellectual property.
Over the last few years, IGT has proved itself as the market leader in the gaming industry on a global scale. The company provides its customers with the chance to reach a great variety of games across various channels and regulated segments. In addition, IGT has been focused on consolidating both its local presence and relationships with over 100 countries’ governments and regulatory authorities worldwide.
On the other hand, Aristocrat Leisure Limited has been specialising in providing a large number of high-quality gaming solutions. Currently, the company has licenses issued by over 200 regulatory authorities and offers its services in more than 90 countries worldwide.
The Chief Financial Officer & Company Secretary of Aristocrat Toni Korsanos shared that the deal between the two companies would be beneficial for both parties, but it would also definitely help Aristocrat on its way to creating the best gaming experience for customers on a global scale.
- Author
Olivia Cole
