NEW YORK, SAN MATEO, Calif. and TORONTO, Sept. 21, 2010 (GLOBE NEWSWIRE) -- Intertainment Media Inc. ("Intertainment" or the "Company") (TSX-V:INT) announces that its social media, real time, translation platform, Ortsbo, has received an unsolicited initial offer from a North American investment firm to facilitate the purchase of 100% of Ortsbo Inc. for $30 million USD by a US publicly listed company. Intertainment is currently reviewing the offer, which is subject to due diligence, definitive agreement and necessary approvals. The Company will provide additional details as they become available.
Ortsbo ( www.ortsbo.com ), built using Microsoft's Silverlight platform, allows people to chat from a single web site, in real time, in over 50 languages instantly with their friends, colleagues and family using the world's leading social media platforms including Windows Live Messenger, Facebook, Google Talk, and other popular systems that reach billions of people globally. Ortsbo will also be available as a commercial private chat platform as well as an email translation plug-in module for Microsoft Outlook.
Since its debut on July 22, 2010, Ortsbo has received over 387,000 unique users resulting in over 500,000 online sessions and more than 1 million page views generating in excess of 2.1 million minutes of user engagement.
Ortsbo generates revenues from translation through the ability to implement multilingual contextual and display advertising and sponsorship.
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.
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. A desktop version for Original Equipment Manufacturers (OEMs) will also be made available, allowing Ortsbo to ship on new desktop computers, portable computers and mobile devices.
About Ortsbo: www.ortsbo.com
Ortsbo () 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 the Toronto, Canada region, 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-V:INT).
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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.
CONTACT: Ortsbo/Intertainment Media Inc.: David Lucatch, CEO 800-395-9943 firstname.lastname@example.org www.ortsbo.com www.intertainmentmedia.com World Market Media Inc. +1 561 948 0330 Ext. 302 email@example.com www.worldmarketmedia.com