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SGR represents Scientific Games in Asset Acquisition
Smith, Gambrell & Russell, LLP represented Scientific Games International, Inc. in connection with its acquisition of substantially all of the intellectual property assets of PMV Products, Inc., whereby Scientific Games acquired certain intellectual property relating to the distribution of lottery tickets.
The transaction was valued by Scientific Games at $8.0 million based on initial and potential purchase price payments. Scientific Games International, Inc. is a principal operating subsidiary of Scientific Games Corporation, the leading worldwide integrated supplier of instant tickets, systems, and services to lotteries, whose stock is listed on the New York Stock Exchange.
The transaction involved the preparation and negotiation of an asset purchase agreement, an employment agreement, a consulting agreement, and a non-competition agreement, as well as other ancillary documents. SGR has represented Scientific Games in other acquisitions of both U.S. and non-U.S. based companies.
The SGR team assembled for this transaction included: Tim Elder, who handled corporate, securities, and employment matters; intellectual property attorney Dale Lischer; and other SGR attorneys.