IGT Inks Patent Cross-Licensing Agreement With Aristocrat Leisure

International Game Technology PLC IGT has signed a broad patent cross-licensing agreement with Aristocrat Leisure Limited, including patents related to game features and remote game server (RGS) technologies. The financial terms of the deal were not disclosed.
Under the agreement, IGT will be able to offer licenses to the companies' combined game features and RGS patent portfolios to the global gaming industry.
"We look forward to providing the entire gaming industry with the opportunity to license IGT and Aristocrat patents, particularly the compelling content resulting from our combined RGS portfolios..," said Renato Ascoli, IGT CEO Global Gaming.
Price Action: IGT shares closed higher by 1.42% at $23.57 on Tuesday.