IGT purchase Cyberview Technology, Inc

LAS VEGAS, June 4 /PRNewswire-FirstCall/ — International Game Technology (NYSE: IGT) today announced that its wholly owned subsidiary, IGT, has entered into an agreement to purchase substantially all of the assets and business of Cyberview Technology, Inc., including cash on hand of approximately $17 million, for a cash purchase price of $76 million.

IGT also announced that concurrently with the closing of the asset purchase, it will enter into a license agreement with Cyberview that provides IGT access to certain Cyberview patents and technology not included in the asset purchase, for a one-time license fee of $9 million.

The agreement is subject to Cyberview shareholder approval and certain other closing conditions and is expected to close in the third calendar quarter of 2008.

In the event that the transaction is successfully completed, the US operations of Cyberview will be integrated with IGT in the US, and its UK- based operation, which focuses on the development of the Cyberview business in markets outside of the US, will be integrated with IGT-UK (Barcrest).

Cyberview Chief Executive Officer Seamus McGill commented, “This transaction is beneficial to all parties. Cyberview will be able to distribute substantial cash proceeds to its equityholders. At the same time, IGT will be able to use these assets to expand and diversify its business opportunities.”

IGT Chief Operating Officer Steve Morro added, “We are delighted to have reached this agreement with Cyberview. This purchase agreement, along with the patent license, will strengthen our core business and provide access to the fixed odds betting market in the UK.”

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.

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. Such forward-looking statements are subject to change and to inherent known and unknown risks and uncertainties. For instance, although IGT and Cyberview have signed a definitive agreement, the proposed transactions may not close on a timely basis or at all, due to failure to satisfy closing conditions or otherwise. 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

CONTACT: Patrick Cavanaugh, Investor Relations of International Game Technology, 1-866-296-4232
Web site: http://www.igt.com

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
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.
Web site: http://www.igt.com