IGT and Aristocrat sign licensing agreement and end litigation

IGT and Aristocrat sign licensing agreement and end litigation

Monday, October 3, 2016 Posted by Andy McCarron
Two gaming giants have sorted out their differences with a cross-licensing agreement

International Game Technology (IGT) has reached a comprehensive cross-licensing agreement with Aristocrat Leisure Limited which covers intellectual property involving game features and system patents.

The terms of the agreement have not been announced, but IGT also announced that the parties have agreed to settle all outstanding litigation between them.

It is only five years since the two firms signed a different cross-licensing agreement covering patent complaints that they had with each other.

IGT Chief Executive Officer North America Gaming & Interactive Renato Ascoli commented: “IGT's 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.”

Toni Korsanos, Aristocrat’s chief financial officer & company secretary, added: “Turning ideas into value-adding innovation is core to Aristocrat's mission to 'create the world's greatest gaming experience every day'. Our agreement with IGT will contribute toward this, and we are pleased to have finalized these arrangements.” 

Totally Gaming says: Two companies working at the cutting edge of machine gaming are bound to cross over some boundaries at times, which is why such a cross licensing agreement such as this is good for the industry. Continual patent litigation battles will only stifle R&D in a market that thrives on innovation, which is why IGT and Aristocrat should be applauded for coming together in this way.

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