International Game Technology (IGT) will allow Austrian gaming giant Novomatic Group to use its patented game features under a new cross-license agreement.
Novomatic will pay IGT an ongoing licensing fee under the agreement, although the exact terms of the deal have not been disclosed.
"Reaching this cross-licensing agreement with IGT enhances our global expansion strategy with access to compelling product features that have proven to be successful in North America and international markets," Novomatic chief technology officer Thomas Graf said.
Senior vice president and general counsel of IGT's North America Gaming and Interactive division, Michael Prescott, added: "We welcome Novomatic to a comprehensive group of gaming industry leaders who have created a vast resource of game features patents.
"IGT's collaborative effort to build upon North America's largest slot game feature patent portfolio now encompasses a global patent pool that we believe can foster continued industry-wide innovation."
IGT has already licensed its patented game features to peers such as Scientific Games, AGS, Aruze Gaming, Incredible Technologies and Konami Gaming.
It also has a licensing agreement in place with Australia's Ainsworth Game Technology, in which Novomatic acquired a majority stake in January.
Shares in International Game Technology plc (NYQ:IGT) closed in New York Tuesday up 0.67 per cent at $29.92 per share, having set a new 52-week high of $30.47 per share a day earlier.