Aristocrat Technologies Australia Pty Ltd (ASX:ALL) today announced it has reached agreement with International Game Technology, Inc (NYSE:IGT) to settle several intellectual property disputes.

Under the agreement Aristocrat and IGT will enter in to a cross-licensing arrangement involving Aristocrat’s Hyperlink and Ante-Bet patents and IGT’s Alcorn patents.

Aristocrat Managing Director and Chief Executive Officer Jamie Odell said Aristocrat was pleased to have reached agreement with IGT.

“Resolution of these intellectual property disputes acknowledges the strength of each company’s intellectual property,” Mr Odell said.

“Aristocrat’s IP is a crucial company asset and the company has taken a proactive approach to aggressively protect and defend IP as a core part of our business strategy.

“This settlement with IGT will now allow us to focus on our intellectual property efforts against other parties.”