Toronto, Ontario & New York, New York--(Newsfile Corp. - December 1, 2014) - Intertainment Media Inc. ("Intertainment Media" or "Company") (TSXV: INT) (OTCPINK: ITMTF) (FRA: I4T) is pleased to announce that TranzActive (www.tranzactive.com), has partnered with Yappn Corp. (www.yappn.com) (OTCQB: YPPN) to license its proprietary language services technologies to Digital Widget Factory ("DWF"), a private global consortium that manages online user engagement for client programs in Asia, Europe, Central and South America, to be used in the creation of multilingual Ecommerce and other revenue-based web sites, each optimized for mobile, portable and web consumers.
Under the terms of the agreement, TranzActive (formerly Ortsbo) will license its technologies to aid in the building of a minimum of 200 sites in the first year of the agreement to be followed by an additional 400 sites in 2016 and up to 525 additional sites in 2017. TranzActive will receive 20% of the net profits of the enterprise which will be recorded as license fee revenue on a quarterly basis as earned, along with rights to an additional 20% equity bonus in the event of a DWF liquidity event within the next three years.
TranzActive offers its technology to clients and partners via an equity and / or fee for license model to create the opportunity for long-term value. The equity position model allows those organizations to build their global presence without the burden of adding significant resources like staffing and location services, and it gives Intertainment Media the opportunity to acquire long-term returns on its investments.