With completion of $4.7B deal, GTECH becomes IGT

UPON COMPLETION OF ITS $4.7 billion acquisition of International Game Technology, GTECH will take the IGT name and move its headquarters from Rome to London. The company says that its Providence operations will not be changed by the merger and re-branding.
UPON COMPLETION OF ITS $4.7 billion acquisition of International Game Technology, GTECH will take the IGT name and move its headquarters from Rome to London. The company says that its Providence operations will not be changed by the merger and re-branding.

PROVIDENCE – GTECH is changing its name and moving its corporate headquarters, but keeping its iconic blue and orange globe.

Rome-based GTECH S.p.A., parent of Providence-based GTECH Corp., received unanimous approval from the Nevada Gaming Commission Thursday for its pending $4.7 billion acquisition of International Game Technology. The final gaming authority approval comes less than a year after the international gaming-company announced the acquisition last July. Upon closing – expected in the second quarter of this year – the combined entities will be branded as “IGT” and corporate headquarters will move to London.

“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,” said Marco Sala, GTECH CEO, in a statement.

The GTECH logo will join the IGT name, which Sala says “draws upon the substantial brand equity of our two companies.”

- Advertisement -

The parent company and corporate headquarters would be called International Game Technology PLC in London, but operation headquarters would remain in Providence, Nevada and Rome.

A GTECH spokeswoman said the company was “completely committed to Providence, as always.”

A full re-branding will commence after the acquisition is complete and the company will be solely listed on the New York Stock Exchange under the symbol “IGT,” according to the spokeswoman.

Under the new leadership team, GTECH Chairman Donald R. Sweitzer would become chairman of IGT Corp. (North America) and senior public affairs adviser.

No posts to display