 Gaming systems provider Cyberview Tech recently confirmed that it was purchased by global slot machines manufacturer International Game Technology (IGT) for a total of 76 million dollar. This is part of IGT’s strategy to increase its product portfolio and its presence in the English market, one of the most important gaming markets in the world.
Through the agreement, Cyberview will transfer to IGT the copyright of its products, and will distribute 34.7 million Pounds among its shareholders. “The operation benefits both parties,” commented Seamus McGill, CEO of Cyberview.
Cyberview is currently very well positioned in the English market thanks to the served-based gaming system used in slot machines. However, the company has not had good results in other countries, such as the United States. During 2007, Cyberview spent at least seven million dollars in the requirements to obtain the necessary license to sell its technology, but made no sales.
“We are very satisfied about this purchase,” Steve Morro, CEO of IGT, explained. “Undoubtedly, we will increase our portfolio of products. This agreement represents an open door to the English market.”
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