International Game Technology PLC (IGT) has signed a patent cross-license agreement with the NOVOMATIC Group which enables the firm to offer games, including patented game features from IGT’s portfolio, under a licensing fee structure for an undisclosed consideration.
“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,” commented Thomas Graf, chief technology officer 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,” added 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.”