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Ainsworth Game Technology Enters Patent Licensing, Settlement Agreement With Aristocrat; Shares Up 6%

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Ainsworth Game Technology (ASX:AGI) entered into an agreement with Aristocrat Leisure (ASX:ALL) units Aristocrat Technologies Australia and Aristocrat Technologies to license certain Aristocrat patents and settle potential claims arising from their historic use in the Australian market, according to a Friday Australian bourse filing.

The company will license certain Aristocrat patents, including those covering its Hold & Spin technology and responsible gaming, while Aristocrat will receive a license to the company's patents for Aristocrat-branded products in Australia, per the filing.

The parties have released each other from all past claims and agreed not to challenge the licensed patents, the filing said.

The company will pay Aristocrat AU$8.5 million over a three-and-a-half-year period, while the remaining commercial terms will remain confidential, the filing added.

Ainsworth Game Technology's shares jumped nearly 6% in recent Friday trade.

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