Konami and IGT Strike Cross-Licensing Deal

International Game Technology (IGT), has officially entered into a deal with Konami Gaming. The brand has agreed to a patent cross-licensing deal, which will see its patented features supplied by to a US customer base, by Konami. In return, Konami will pay any applicable licensing fees.

According to executive vice president and chief commercial officer for Konami, Thomas Jingoli, “Cross-licensing these game patents between our two companies allows Konami and IGT to share some of the best features that make our games desired by customers.”

He continued, “The opportunity to leverage some of IGT’s patented mechanics enables Konami to enhance our game portfolio as we continue to focus on delivering the most enjoyable ‘Born from Fun’ gaming experiences possible.”

Senior vice president and general counsel for IGT’s North American gaming and interactive business, Michael Prescott, added, “Our cross-licensing agreement with Konami Gaming, Inc. demonstrates the strength of IGT’s game feature patent portfolio and the value that it represents to other gaming companies. We look forward to continued collaboration across the industry as we collectively invest in the growth of gaming.”

IGT is recognized as a worldwide leader in gaming, having a presence in more than 100 countries across the globe, and supplying jobs to more than 12,000 employees. Its recent deal with the Las Vegas-based division of Konami Holdings will serve to expand its overall reach, and make its unique features more readily available to US customers.

Source:

“IGT Signs Cross-Licensing Agreement With Konami Gaming, Inc.”, prnewswire.com, June 12, 2017.