IGT Announces Agreement to License Exclusive IP Rights for GALAXIS, SYSTEM2Go and Associated Software and Hardware to Modulus
International Game Technology PLC (NYSE: IGT) announced a strategic agreement to exclusively license the intellectual property of its GALAXIS™ and SYSTEM2Go™ casino central management systems to Modulus S.a.r.l. The deal, effective Dec. 18, 2020, allows Modulus to commercialize and distribute IGT's CMS solutions and legacy hardware, excluding North America. This partnership aims to enhance customer service and reduce resource duplication for IGT, enabling focus on its innovative IGT ADVANTAGE CMS. The agreement is subject to regulatory approvals.
- Strategic licensing agreement with Modulus enhances market distribution of GALAXIS and SYSTEM2Go systems.
- Allows IGT to focus on advanced systems solutions like IGT ADVANTAGE CMS, optimizing resource allocation.
- None.
LONDON, Dec. 18, 2020 /PRNewswire/ -- International Game Technology PLC (NYSE: IGT) today announced that its subsidiaries IGT Europe B.V., IGT Austria GmbH, and IGT Germany Gaming GmbH ("IGT") have entered into a strategic agreement to exclusively license the intellectual property for its GALAXIS™ and SYSTEM2Go™ casino central management systems (CMSs) to Modulus S.a.r.l. ("Modulus").
The agreement, effective Dec. 18, 2020, permits Modulus to commercialize and distribute GALAXIS and SYSTEM2Go and IGT's existing inventory of related legacy hardware to Modulus customers in all territories excluding North America. Modulus will also be able to develop source code for these products, and will provide ongoing maintenance services to existing GALAXIS and SYSTEM2Go customers.
"Driven by decades of IGT's proven casino systems experience, GALAXIS and SYSTEM2Go solutions have earned a strong reputation as solutions that drive efficiencies on international customers' gaming floors while elevating player engagement," said Willy de Bruyn, President, Modulus. "GALAXIS' range of flexible modules integrate effortlessly with SYSTEM2Go, an affordable and scalable CMS suited to single and multi-site gaming venues that does not require a significant IT infrastructure investment and extensive training to operate. These solutions are a significant strategic addition to our product portfolio, and SYSTEM2Go will continue to be especially transformational for smaller, cost-conscious international operators."
"As the supplier of the industry's most advanced systems solutions, IGT has decided to exclusively license the IP of its successful legacy GALAXIS and SYSTEM2Go solutions to Modulus to eliminate duplicative efforts and resources required for us to manage multiple sets of CMS products. This will optimize our focus on the development, deployment, and customer service activities for our innovative IGT ADVANTAGE CMS and associated products, including our industry-leading Resort Wallet™ and IGTPay™ mobile cashless solutions," said Mark MacCombie, IGT Vice President, Sales and Operations, EMEA. "IGT and Modulus have collaborated on a robust transition plan that will ensure current GALAXIS and SYSTEM2Go customers continue to seamlessly experience the high-quality service, maintenance and support they've come to expect."
The transaction is subject to customary closing conditions, including regulatory approvals.
About IGT
IGT (NYSE: IGT) is the global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Gaming Machines and Lotteries to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 countries around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com.
About Modulus
Modulus is a Luxembourg-based company that will provide customers with seamless support capabilities and customer service by leveraging extensive systems experience. Modulus is continuously looking for a new generation of Casino Intelligent systems designed to meet the industry's current and emerging technology needs. Modulus is driven by an experienced team with strong experience in French and international markets.
Cautionary Statement Regarding Forward-Looking Statements
This news release may contain forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning International Game Technology PLC and its consolidated subsidiaries (the "Company") and other matters. These statements may discuss goals, intentions, and expectations as to future plans, trends, events, dividends, results of operations, or financial condition, or otherwise, based on current beliefs of the management of the Company as well as assumptions made by, and information currently available to, such management. Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "plan," "could," "would," "should," "shall", "continue," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project" or the negative or other variations of them. These forward-looking statements speak only as of the date on which such statements are made and are subject to various risks and uncertainties, many of which are outside the Company's control. Should one or more of these risks or uncertainties materialize, or should any of the underlying assumptions prove incorrect, actual results may differ materially from those predicted in the forward-looking statements and from past results, performance, or achievements. Therefore, you should not place undue reliance on such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include (but are not limited to) the factors and risks described in the Company's annual report on Form 20-F for the financial year ended December 31, 2019 and other documents filed from time to time with the SEC, which are available on the SEC's website at www.sec.gov and on the investor relations section of the Company's website at www.IGT.com. Except as required under applicable law, the Company does not assume any obligation to update these forward-looking statements. You should carefully consider these factors and other risks and uncertainties that affect the Company's business. All forward-looking statements contained in this news release are qualified in their entirety by this cautionary statement. All subsequent written or oral forward-looking statements attributable to International Game Technology PLC, or persons acting on its behalf, are expressly qualified in their entirety by this cautionary statement.
Contact:
Phil O'Shaughnessy, Global Communications, toll free in U.S./Canada +1 (844) IGT-7452; outside U.S./Canada +1 (401) 392-7452
Francesco Luti, +39 3485475493; for Italian media inquiries
James Hurley, Investor Relations, +1 (401) 392-7190
© 2020 IGT
The trademarks and/or service marks used herein are either trademarks or registered trademarks of IGT, its affiliates or its licensors.
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SOURCE International Game Technology PLC
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