Aristocrat Signs Cross-Licensing Deal with IGT
Australian gambling machine manufacturer, Aristocrat Leisure Limited, and International Game Technology (IGT) have reached a cross-licensing agreement that ends all outstanding litigation between the two companies.
The agreement covers all intellectual property involving game features and system patents. Although the specific terms of the agreement have not been made public, the two companies are hopeful for the future.
“Turning ideas into value-adding innovation is core to Aristocrat’s mission to create the world’s greatest gaming experience every day,” commented Toni Korsanos, Chief Financial Officer and Company Secretary at Aristocrat. “Our agreement with IGT will contribute toward this, and we are pleased to have finalised these arrangements.”
It has been five years since the two companies signed a different cross-licensing agreement, which covered other patent complaints they had against each other at the time. Despite the previous agreement, in March 2015, IGT filed a dispute against Aristocrat claiming that it infringed on ten of its patents, while Aristocrat countered the dispute, claiming that IGT had infringed on four of its own patents. The courts did not yet rule on the case and this new agreement has settled the litigation.
“IGT’s R&D investment and patent portfolio are the largest in the gaming industry,” stated Renato Ascoli, Chief Executive Officer North America Gaming and Interactive at IGT. “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.”
Both Aristocrat and IGT work in the gaming machine development industry with their games and services available across the world. This cross-licensing agreement allows both companies to continue to develop new technology, while largely removing the threat of patent litigation.
March 23, 2017