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April 4, 2007
DigiDeal Press Release 07-04 |
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(Spokane, WA, April 2, 2007) – DigiDeal Corporation, a gaming technology company based in Spokane Valley, WA announced today that it has entered into an agreement with International Game Technology (NYSE:IGT). IGT will make a significant investment in DigiDeal. The closing of the investment is subject to approval of certain matters by DigiDeal’s stockholders, the receipt of applicable regulatory approvals and certain other negotiated closing conditions. Financial terms related to the agreement or the investment were not released.
Concurrently with the closing of the investment, IGT will receive access to DigiDeal’s intellectual property portfolio, five-year exclusive manufacturing and distribution rights for DigiDeal products, and an option to acquire DigiDeal within five years.
DigiDeal’s primary technology is a patented electronic table game platform. IGT expects to work jointly with DigiDeal to expand DigiDeal’s game content library and electronic table game products.
“DigiDeal is pleased to partner with IGT to further develop our game platforms, broaden our portfolio of intellectual properties and game content, and expand our manufacturing and distribution capabilities,” said Michael Kuhn, DigiDeal’s CEO.
“Our proposed distribution agreement and investment in DigiDeal reflect IGT’s commitment to playing a key role in the developing electronic table game market,” stated Steve Morro, President of IGT’s Gaming Division. “We are excited about the opportunity to leverage DigiDeal’s intellectual property portfolio and engineering talent with IGT’s depth of research and development resources.”
DigiDeal (www.digideal.com) a privately held Nevada corporation based out of Spokane Valley, WA, is a designer and inventor of products for the gaming industry.
International Game Technology (http://www.igt.com) is a global company specializing in the design, development, manufacturing, distribution and sales of computerized gaming machines and system products.
Statements in this release, which are not historical facts, are “forward looking” statements under the Private Securities Litigation Reform Act of 1995. Although DigiDeal believes that the expectations reflected in any of its forward-looking statements are reasonable, actual results could differ materially from those projected or assumed. DigiDeal’s future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent known and unknown risks and uncertainties. DigiDeal does not intend, and undertakes no obligation, to update forward-looking statements to reflect future events or circumstances.
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