GGRAsia – IGT acquires intellectual property from Leap Forward

IGT acquires intellectual property from Leap Forward

Nov 09, 2016 Newsdesk Latest News, Top of the deck, World

Global gaming and lottery supplier International Game Technology Plc (IGT) says it has acquired assets including several patents and other intellectual property from Leap Forward Gaming Inc.

U.S.-based Leap Forward supplies so-called picture-in-picture technology for casino slot machines.

The assets acquired by IGT relate to the SaffariNet Patron Display Interface. IGT said that as part of the deal it had agreed to dismiss litigation it had brought against Leap Forward.

“This acquisition builds upon IGT’s industry-leading intellectual property portfolio by enabling us to broaden the scope of our casino management systems solutions,” said Victor Duarte, IGT’s global chief product officer of gaming, in a statement accompanying Tuesday’s announcement.

IGT said in Tuesday’s release that the SaffariNet technology works with gaming machines and gaming floor systems to enhance casino operator communications and casinos’ ability to convey marketing messages to patrons.

Ali Saffari, Leap Forward’s founder, is a former senior vice president of engineering at the pre-merger entity International Game Technology.

The release said Mr Saffari would “serve as a consultant to IGT to ensure a seamless integration of the solutions and applications related to the acquisition”.

IGT Plc is the result of a US$6.4-billion debt-funded merger – completed in April 2015 – between International Game Technology, a Nevada-based supplier of slot machines, and Italy-based lottery equipment specialist GTech SpA.

IGT had recently announced several deals giving it access to technology originally developed outside the group. Several of the agreements also give outsiders access to IGT technology.

In April it was revealed that Hong Kong-listed gaming equipment supplier Paradise Entertainment Ltd – which produces, via the LT Game brand, electronic table games popular in the Macau market – had agreed to transfer to IGT all of its electronic table game technology, patents and other intellectual property. The exception was LT Game table game intellectual property used in Macau.

In October IGT said it had reached two independent cross-licensing agreements covering game features and system patents, namely with Australia-based slot machine maker Aristocrat Leisure Ltd and with Everi Holdings Inc, the latter a specialist in cash handling technology and electronic game content for the casino industry.