NEW YORK CITY, NEW YORK and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO--(Marketwire - Oct. 19, 2010) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT) announces that its social media, real time translation platform, Ortsbo, is now available for Nokia's online and mobile platform Ovi, making this the first Ortsbo integrated offering for portable and desktop devices. The Ortsbo platform has also been expanded to include Lotus Sametime and LiveJournal users. This latest release of the Ortsbo platform now offers users interconnectivity to Nokia mobile users, with other mobile programs currently under development.
Ortsbo connects to PC and Mac computers and mobile devices as well as all major search engine instant messaging ("IM") platforms including Microsoft, Google and Yahoo! along with Facebook, iChat, AIM, ICQ, Gadu-Gadu, Ovi, Lotus Sametime, LiveJournal and Tencent QQ and QQ International, China's largest chat platforms. Ortsbo provides instant translation capabilities to well over 1 billion active chat accounts.
Ortsbo (www.ortsbo.com), built using Microsoft's Silverlight platform, allows people to chat from a single online app in real time, in over 50 languages instantly with their friends, colleagues and families. Since its debut in late July, Ortsbo has received over 1.65 Million unique users resulting in over 1.9 Million online sessions and more than 3.7 Million page views generating in excess of 4.1 Million minutes of user engagement.
On September 21, 2010, Intertainment announced that it has received an offer to facilitate the purchase of 100% of Ortsbo Inc. for $30 Million USD by a US publicly listed company. The offer, which is currently under review by Intertainment, is subject to due diligence, definitive agreement and necessary approvals. Since the announcement, the Company has also received initial interest from other parties for Ortsbo, and the Company is considering engaging a specialist for software mergers and acquisitions ("M&A") to review the option of a purchasing auction to interested parties.
Ortsbo generates revenues from translation through the ability to implement multilingual contextual and display advertising and sponsorship. For the commercial market, Ortsbo can be licensed and customized for proprietary, secure applications allowing companies, educational institutions and government agencies to provide online translation services, chat and email with their constituents across a multitude of languages
With Ortsbo's plug-in email module for Microsoft's Outlook platform, the sender's and recipient's languages are easily selected and both languages are displayed in each email, allowing more in-depth language analysis for technical items. The email plug-in module will be retailed at $29.95 US, with a free, lite version, available for individuals who register with Ortsbo before November 30, 2010.
About Ortsbo: www.ortsbo.com
Ortsbo (www.ortsbo.com) enables real-time conversational translation in over 50 languages and seamlessly integrates with today's most popular social media platforms.
Ortsbo Inc. is a division of Intertainment Media Inc., a Rich Media Applications leader, focused on delivering leading edge technology and marketing solutions enabling clients to power enhanced branding, loyalty initiatives and consumer engagement. Selected as a Microsoft Global Agency Initiative partner, Intertainment has joined an elite group of interactive agencies worldwide that Microsoft recommends to its Partners and Customers.
Intertainment Media owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo and Magnum.
Headquartered in greater Toronto, Canada, with offices in New York, Los Angeles and San Mateo, CA, Intertainment Media Inc. is listed on the Toronto Venture Exchange under the symbol "INT" (TSX VENTURE:INT).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
This release may contain forward looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward looking statements. Intertainment Media Inc. does not assume any obligation to update any forward looking information contained in this news release.