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IGT and Aristocrat Agree to cross-licensing deal
IGT AND ARISTOCRAT BURY THE LITIGATION HATCHET
Two companies agree cross-licensing deal and an end to hostilities.
International Game Technology plc and Aristocrat Leisure Limited have clashed in court on intellectual property matters a few times in the past, but a new cross-licensing agreement this week has enabled them to bury the hatchet and settle all outstanding litigation between them.
The agreement covers intellectual property involving game features and system patents, but the full terms of the deal have not been revealed.
Renato Ascoli, IGTs CEO for North America and Interactive Double Down Casino, said in the announcement:
"IGT slots R&D investment and patent portfolio are the largest in the gaming industry. We are pleased to have reached this agreement with Aristocrat as we build upon our leadership in gaming innovation. This agreement demonstrates both companies shared commitment to investing in and preserving the value of intellectual property."
Aristocrats CFO, Toni Korsanos, said:
"Turning ideas into value-adding innovation is core to Aristocrats mission to create the worlds greatest gaming experience every day. Our agreement with IGT will contribute toward this, and we are pleased to have finalized these arrangements."
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