Global gaming giant Novomatic has signed a patent cross-license agreement with fellow industry leader IGT.
Under the terms of the agreement, Novomatic will be able to offer games, including patented game features, from the IGT portfolio and will pay ongoing licensing fees to IGT to do so. The financial terms of the agreement remain confidential.
Chief Technology Officer at Novomatic, Thomas Graf, said, “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.”
IGT’s Senior Vice President and General Counsel, North America Gaming & Interactive, Michael Prescott added, “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.”