RENO, Nev. and LONDON, March 4 /PRNewswire-FirstCall/ -- International
Game Technology (NYSE: IGT) and Cyberview Technology, Inc. (LSE: CYBV)
today announced that they are engaged in preliminary discussions regarding
IGT's potential acquisition of Cyberview.
The parties have agreed to an exclusive negotiating period. Under the
terms being discussed, shareholders, option holders and warrant holders of
Cyberview would receive aggregate consideration of up to US$70 million for
all of the outstanding equity securities of Cyberview.
Discussions are in early stages. The terms of any potential transaction
may be materially different from what is being discussed. The transaction
remains subject to negotiation of other terms, completion of due diligence,
negotiation of terms of a definitive agreement under Delaware law,
regulatory approvals, and approvals of the Boards of Directors of both
companies.
If a definitive agreement is reached, approval by Cyberview's
shareholders and satisfaction of other closing conditions not yet agreed
upon would be required to close the transaction. There can be no assurances
that any agreement will be reached or that a transaction will be completed
on the terms set forth above or others. There will be no further comment
until an agreement is reached or the discussions are terminated.
About International Game Technology
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 systems products.
About Cyberview Technology, Inc.
Cyberview is a leading provider of server-based downloadable gaming
systems underpinned by a strong Intellectual property and patent portfolio.
The strength of the Company's system is its end-to-end security,
flexibility, scalability, reporting capabilities and audit trail. This
innovative and flexible technology allows customers to change the game
offering on demand, thereby enabling the operator to customise its offering
in order to maximise revenue. It also aids administration by providing
detailed reports for operators, regulators and the tax authorities. The
Cyberview system is easily adapted to meet the needs of various regulatory
regimes enabling it to be deployed in most gaming markets and countries
across the world.
The Company's products include:
Gaming machines supplied to UK bookmakers; VLT (Video Lottery
Terminals) to lotteries and other gaming operators; Server-based
downloadable gaming slot machines to the casino industry.
Statements in this release, which are not historical facts, are
"forward looking" statements under the Private Securities Litigation Reform
Act of 1995. Although IGT believes that the expectations reflected in any
of its forward-looking statements are reasonable, actual results could
differ materially from those projected or assumed. IGT'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. IGT does not intend, and undertakes no obligation, to
update forward-looking statements to reflect future events or
circumstances.
Information on risks and factors that could affect IGT's business and
financial results are included in our public filings made with the
Securities and Exchange Commission.
SOURCE International Game Technology
 back to top
Related links:
http://www.igt.com
CONTACT:
investor relations, Patrick Cavanaugh,
1-866-296-4232, or marketing, Ed Rogich, +1-702-896-8690, both
for IGT; or Mark Nanovich, +44 (0) 20 7761 3000, or Fiona Noblet,
Hogarth Partnership, +44 (0) 20 7357 9477, or Paul Vanstone,
Arbuthnot Securities, +44 (0) 20 7012 2000, all for Cyberview
Technology, Inc.
|
