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April 5, 2007 |
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| IGT, DigiDeal reach product-based agreement | |||
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Reno-based International Game Technology announced this week that it had come to an agreement with Spokane, Wash.-based DigiDeal Corp. where IGT would invest in the digital table game company. Under the agreement, IGT will receive access to DigiDeal’s intellectual property portfolio, a five-year term of exclusive manufacturing and distribution rights for DigiDeal products, and an option to acquire DigiDeal within five years. Recent speculation throughout the gaming industry suggested that IGT has long-been interested in DigiDeal’s technology, chiefly its patented electronic table game platform. “Our proposed distribution agreement and investment in DigiDeal reflect IGT’s commitment to playing a key role in the developing electronic table game market,” said Steve Morro, president of IGT’s Gaming Division. “We are excited about the opportunity to leverage DigiDeal’s intellectual property portfolio and engineering talent with IGT’s depth of research and development resources.” Through IGT, DigiDeal will significantly expand its game content library and electronic table game products. “DigiDeal is pleased to partner with IGT to further develop our game platforms, broaden our portfolio of intellectual properties and game content, and expand our manufacturing and distribution capabilities,” said Michael Kuhn, DigiDeal’s CEO. Financial terms of such an investment were not made available, and the agreement still has to be ratified by DigiDeal’s shareholders, as well as pass through proper regulatory channels. —Andy Holtmann |
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