MILAN, July 16 Italy's GTECH said on
Wednesday it had agreed to buy Las Vegas-based slot machine
maker International Game Technology for $4.7 billion in
a cash and stock deal that is one of this year's biggest United
States acquisitions by an Italian firm.
GTECH, the world largest operator of lotteries, said the
aggregate transaction value was around $6.4 billion, inclusive
of $1.75 billion in existing IGT net debt.
"The agreement drives scale across all businesses,
geographies and product lines, and is expected to achieve more
than $280 million in synergies by the third year following
closing of the transaction," the Italian company said in a
(Reporting by Francesca Landini; Editing by Clarence Fernandez)