Server Based Games For WMS
Published: Friday, June 24, 2005 Online-Casinos.com
SERVER BASED GAMES FOR WMS
$15 million software deal
U.S. based WMS Gaming Inc., a subsidiary of public company WMS Industries Inc. has entered into wide ranging technology transfer agreements with software developer Cyberscan / Cyberview Technology Inc. in a five year deal worth $15 million.
WMS will get the latest versions of Cyberview's server-based and downloadable gaming systems and related technologies. The non-exclusive agreement also give WMS the right to create derivative versions of these systems and to use, sell, lease, export or distribute the Cyberview technologies in all gaming markets.
In addition, Cyberview has granted WMS a non-exclusive, perpetual, irrevocable, worldwide license to its technology patent portfolio related to server-based gaming. Cyberview will provide WMS' system technology team with initial technical and functional support to enable WMS to operate and further develop these technologies.
The deal includes a five-year agreement for WMS to license certain of its game content to Cyberview on a royalty-based, recurring revenue basis for use in lottery and other non-casino markets outside of North America.
Cyberview will be paid total cash consideration of $15 million over 2 years for these agreements and WMS has been granted rights of first refusal relating to common shares of Cyberscan Technology held by Jean-Marie Gatto and Sylvie Linard.
Cyberview designs and develops server-based game downloads that have been certified by Gaming Laboratories International, Inc. for use in domestic Class III casinos. In addition, Cyberview won a first-place award for Best Productivity-Enhancement Technology at the Global Gaming Business Gaming and Technology awards in November 2004 and recently received the Gold Award for product innovation for both its Downloadable Games Platform and Games Activation Scheduler as displayed at the gaming industry's most prestigious trade show, G2E, in October 2004.
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