IGT Signs Patent Cross-License Agreement With The NOVOMATIC Group
LONDON, March 13, 2018 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE: IGT), holder of the largest slot game feature patent portfolio in North America, announced that it has signed a patent cross-license agreement with the NOVOMATIC Group; a full-service provider in all segments of the gaming industry. Under the agreement, the NOVOMATIC Group can offer games including patented game features from the IGT portfolio, and will pay ongoing licensing fees to IGT. Financial terms of the agreement are confidential.
"Reaching this cross-licensing agreement with IGT enhances our global expansion strategy with access to compelling product features that have proven to be successful in North America and international markets," said Thomas Graf, CTO of NOVOMATIC AG. "We are very pleased to have this opportunity to expand our creative capacity with this vast portfolio of game features."
"We welcome NOVOMATIC to a comprehensive group of gaming industry leaders who have created a vast resource of game features patents," said Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive. "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."