Online gambling software developer Cryptologic has announced that its wholly owned subsidiary, WagerLogic Ltd., has reached a settlement in its arbitration with Marvel relating to the licensing of Marvel comic book characters.
WagerLogic and Marvel have agreed to modify the business terms of their licence agreement in the following manner:
- The platforms allowed to be used are to be expanded to include mobile, and government licensed in-hotel room systems;
- Wagerlogic is allowed to create wagering games based on Marvel's top team of Super Heroes, The Avengers, in addition to Spider-Man, Fantastic Four and the other characters already included in the license;
- The relationship between the companies is extended by 12 months through January 2014; and
- The agreement between the two parties is to be non-exclusive at an unspecified but reduced cost to WagerLogic.
Source: InfoPowa News