International Game Technology (IGT), holder of the largest slot game feature patent portfolio in North America, has signed a patent cross-license agreement with the NOVOMATIC Group; a full-service provider in all segments of the gaming industry.
Under the terms of the agreement, the NOVOMATIC Group can offer games including patented game features from the IGT portfolio and will pay ongoing licensing fees to the US gaming giant. The financial terms of the agreement are confidential.
Michael Prescott, IGT Senior Vice President and General Counsel, North America Gaming & Interactive, said: “We welcome NOVOMATIC to a comprehensive group of gaming industry leaders who have created a vast resource of game features patents. 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.”
Thomas Graf, CTO of NOVOMATIC AG. responded: “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. We are very pleased to have this opportunity to expand our creative capacity with this vast portfolio of game features.”
The licensing agreement follows hot on the heels of news that Novomatic has acquired circa 52 percent of Australian gaming firm Ainsworth Game Technology Ltd. The acquisition, coupled with access to IGT’s patented game features, will be regarded as a significant strategic advance for Novomatic as it aims to broaden its foothold in the burgeoning US gaming market.