Ainsworth Game Technology Signs Patent Deal With Aristocrat
Synopsis
Ainsworth Game Technology has signed a patent licence agreement with Aristocrat Leisure worth A$8.5 million, giving it access to key Australian gaming patents and supporting future product launches.
Key Highlights
- Ainsworth Game Technology signs patent licence deal with Aristocrat Leisure
- It includes the right to Australian patents including the Hold & Spin family of game features
- Ainsworth will spend A$8.5 million over 3.5 years on Aristocrat (down from initial offer)
- The companies have released each other from certain claims relating to the licensed patents.
Aussie Ainsworth Game Technology has signed a licence agreement with Aristocrat Leisure for certain Australian patents, including the Hold & Spin family of game features.
It also grants the same non-exclusive, non-transferable licence for responsible gaming patents relating to AI-based risk detection technology and digital wallets.
Ainsworth to Pay A$8.5 Million
Aristocrat will receive A$8.5 million over three-and-a-half years from Ainsworth in instalments.
The agreement allows both companies to be freed from all prior claims related to the licensed patents. Ainsworth had also given Aristocrat a reciprocal licence to use its own patents for products in Australia.
The agreement provides Ainsworth with rights to Aristocrat's proprietary elements of gameplay for its own machines and online games in Australia.
Licence Includes Customer Rights
Under the agreement, Ainsworth’s customers, distributors and venues will receive perpetual rights so that they can use the licensed features (and service/re-sell them). Ainsworth chief executive Ryan Comstock said the deal offered the certainty necessary to advance its growth plans in Australia.
Immediately effective, the agreement is designed to assist Ainsworth in its Australian market strategy and will provide controlled access to new product launches.
Source: Mootley Fools
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