IGT Announces Agreement to License Exclusive IP Rights for GALAXIS, SYSTEM2Go and Associated Software and Hardware to Modulus
LONDON, Dec. 18, 2020 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) today announced that its subsidiaries IGT Europe B.V., IGT Austria GmbH, and IGT Germany Gaming GmbH ("IGT") have entered into a strategic agreement to exclusively license the intellectual property for its GALAXIS™ and SYSTEM2Go™ casino central management systems (CMSs) to Modulus S.a.r.l. ("Modulus").
The agreement, effective Dec. 18, 2020, permits Modulus to commercialize and distribute GALAXIS and SYSTEM2Go and IGT's existing inventory of related legacy hardware to Modulus customers in all territories excluding North America. Modulus will also be able to develop source code for these products, and will provide ongoing maintenance services to existing GALAXIS and SYSTEM2Go customers.
"Driven by decades of IGT's proven casino systems experience, GALAXIS and SYSTEM2Go solutions have earned a strong reputation as solutions that drive efficiencies on international customers' gaming floors while elevating player engagement," said Willy de Bruyn, President, Modulus. "GALAXIS' range of flexible modules integrate effortlessly with SYSTEM2Go, an affordable and scalable CMS suited to single and multi-site gaming venues that does not require a significant IT infrastructure investment and extensive training to operate. These solutions are a significant strategic addition to our product portfolio, and SYSTEM2Go will continue to be especially transformational for smaller, cost-conscious international operators."
"As the supplier of the industry's most advanced systems solutions, IGT has decided to exclusively license the IP of its successful legacy GALAXIS and SYSTEM2Go solutions to Modulus to eliminate duplicative efforts and resources required for us to manage multiple sets of CMS products. This will optimize our focus on the development, deployment, and customer service activities for our innovative IGT ADVANTAGE CMS and associated products, including our industry-leading Resort Wallet™ and IGTPay™ mobile cashless solutions," said Mark MacCombie, IGT Vice President, Sales and Operations, EMEA. "IGT and Modulus have collaborated on a robust transition plan that will ensure current GALAXIS and SYSTEM2Go customers continue to seamlessly experience the high-quality service, maintenance and support they've come to expect."
The transaction is subject to customary closing conditions, including regulatory approvals.