Technology and software provider GTECH officially confirmed that its $6.4 billion takeover deal of slots developer IGT had been approved by the Nevada Gaming Control Board and Nevada Gaming Commission this week.
As a result of the deal being finalised by regulators, GTECH revealed that the the entire company will be rebranded to the IGT brand. GTECH’s initial interest in IGT was announced back in July, 2014.
GTECH also stated that the new holding company name would be called International Game Technology Plc. This will replace the current name of Georgia Worldwide Plc that has been used for the duration of the acquisition process.
CEO of GTECH Marco Sala said “The combination of GTECH and IGT brings together two highly complementary legacy businesses to form the true blue chip company in global gaming. The new name and branding reflect this positioning. In addition, our two companies have similar core values; in fact, our respective names are derived from the same origin. The comprehensive footprint of our new group fully validates the global claim inscribed in the IGT name.”
Sala added “Our new logo, marrying the IGT name and the iconic GTECH globe, draws upon the substantial brand equity of our two companies. It symbolizes our unique capacity to transform the industry with cutting-edge technology and innovative content; to deliver exciting game experiences through every channel, including gaming, lottery, interactive, mobile, and social; and to be the partner of choice in the global gaming industry.”
Las Vegas-based IGT is one of the most recognisable brands in the slots industry and has enjoyed high levels of success with slots releases including the popular online slot Prowling Panther and the magical Pixies of the Forest mobile slot.