UPDATE 1-IGT, Cyberview in early merger talks

(Writes through, adds closing share prices)

NEW YORK, March 4 (Reuters) - International Game Technology (IGT.N: Quote, Profile, Research, Stock Buzz) and Britain's Cyberview Technology Inc (CYBV.L: Quote, Profile, Research, Stock Buzz) said on Tuesday that they are in preliminary discussions that could results in IGT's acquisition of Cyberview.

The two companies, which both provide equipment to the gambling industry, are discussing terms that would value Cyberview's outstanding equity securities at up to $70 million.

The companies said the discussions are in early stages and that the terms of a potential transaction may be materially different than those under discussion.

IGT and Cyberview said they will not comment further until an agreement is reached or the discussions are terminated.

Prior to the announcement, IGT shares closed up 0.1 percent at $47.01 on Tuesday on the New York Stock Exchange. Cyberview had risen 1.9 percent in London, closing at 131 pence. (Reporting by Chris Reiter; Editing by Braden Reddall)