IGT and Aristocrat reach cross-licensing agreement

ng the patent dispute litigation brought forwards last spring, IGT has announced a cross-licensing agreement with Aristocrat covering all intellectual property involving game features and patents.

IGT filed a dispute in March 2015 that Aristocrat infringed on ten of its patents and Aristocrat argued that IGT infringed on four of its patents, but the courts did not decide on the case.

While the terms have not yet been announced, both companies appear hopeful for their future development.

Responding to the agreement IGT North America Gaming & Interactive CEO Renato Ascoli said: "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."

Toni Korsanos, Aristocrat CFO echoed the sentiment: "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."