GTECH governance has announced that it has received approval of its $6.4 billion acquisition deal of International Game Technology (IGT) by regulators the Nevada Gaming Commission and the Gaming Control Board.
The approval represents the final authoritative step needed to be cleared by GTECH in order to progress with its IGT acquisition which first announced on 16 July 2014.
GTECH announced that the combined companies will be branded as IGT and that the holding company will be International Game Technology Plc, replacing Georgia Worldwide Plc, which was used for the purpose of concluding the acquisition.
In addition, GTECH has announced the corporate structure and executive team that will lead the combined organization. The new company will leverage the strengths of the two combined gaming industry leaders to become the largest gaming and lottery company in the world.
“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,”said Marco Sala, GTECH S.p.A. Chief Executive Officer.
“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.”