NEW YORK, NEW YORK and LOS ANGELES, CALIFORNIA and SAN MATEO, CALIFORNIA and TORONTO, ONTARIO--(Marketwire - March 21, 2012) - Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) announces that its social media, real time, experiential communications platform, Ortsbo.com (www.ortsbo.com), has applied for U.S. patent protection for its new e-Reader translator application. The app, now available in closed Beta, will transform the e-Reader industry by making it possible to instantly translate-in the user's choice of text or audible speech-anything that can be loaded into the most popular e-Reader platforms.
Ortsbo's new multi-language translation tool will support almost any iOS, Android or Windows-based desktop, smartphone, mobile and portable computing device including Apple iPads and other tablets. The app, which can be viewed in demo format at http://ortsbo.com/link/ will initially provide text-to-text and text-to-speech translation in German, French and English, with a total of 53 languages ultimately supported.
Tablets and dedicated e-Readers continue to shape the computing landscape both in the United States and around the world. In the U.S., a January 2012 survey by the Pew Research Center's Internet & American Life Project revealed that 19% of adults now own a tablet computer and 19% own an e-Book reader-figures that are up from 10% reported ownership for both devices in research conducted just two months prior. Yankee Group Research shows that the Asia-Pacific region will come on strong in the next two years as well, accounting for 58% of all tablet revenue by 2014 and far outpacing the EMEA region at 18%.
IDC reports that global tablet shipments in Q4 of 2011 reached 28.2 million units, with 155% year-over-year growth. Total global revenue for tablets are expected to reach $46 billion in 2014 according to Yankee Group, while IDC predicts global shipments to reach 198.2 million by 2016.
"Ortsbo is committed to extending its expertise to all places where language is a barrier. The soaring popularity of tablets and dedicated e-Readers makes them a natural next step for us," said David Lucatch, CEO of Ortsbo Inc. "The world is becoming a very small place, and valuable content comes in all forms and languages. We look forward to supporting and advancing these changes by creating truly global reading platforms for our users."
Ortsbo's new e-Reader application will translate suitable material back and forth between any of its supported languages. In addition to text, the app provides audio translation if desired. The application will correctly translate accent marks, allowing true translations in French, German, and other languages that feature multiple accents. Text translated to speech is produced by a human sounding voice that mimics the enunciation of the chosen language's native speech.
"In an increasingly mobile and barrier-free world, it's important to provide individuals with the right set of tools to succeed," noted Lucatch. "With the Ortsbo e-reader app, individuals will be able to share content in multiple languages and even use the text-to-speech function to turn their tablet into a hands-free content presenter. It equips both individuals and businesses with a powerful tool that enables content to be seamlessly shared without any limitations based on the reader's native language."
Ortsbo is best known for its technologies that provide and support real-time translations of online chats, email and the most popular social media communications. Since the beginning of 2012, use of Ortsbo services has erupted, showing a 167% increase since November 2011 and passing the 107 million unique user mark.
Now with over 100 million unique users in over 170 countries and territories, Ortsbo (www.ortsbo.com) enables real-time conversational translation for more than 50 languages. Ortsbo's flagship product for social media supports global communications with instant translation capability and real-time, multi-lingual social media chat. Ortsbo's technologies support major social platforms including MSN, Google, Facebook, Twitter and Yahoo!, as well as all major desktop and mobile operating systems, browsers and devices. Ortsbo, based in Toronto and with offices in Los Angeles and New York, is a subsidiary of Interntainment Media (www.intertainmentmedia.com).
On February 28, 2012, Intertainment Media announced that Intertainment and its Board of Directors have reviewed various options for the spin out of its subsidiary Ortsbo Inc., and have elected to proceed with a transaction structure that it believes will be the most favorable to the current security holders of Intertainment. For further information, please refer to Intertainment Media's announcement filed at www.sedar.com.
About Intertainment Media Inc.
Headquartered in both Los Angeles, CA and the Toronto, Canada area, with additional offices in New York and San Mateo, CA, Intertainment Media, Inc. (www.intertainmentmedia.com, s a Rich Media Applications leader focused on delivering leading edge technology and marketing solutions that enable clients to power enhanced branding, loyalty initiatives and consumer engagement. Intertainment Media is based in Toronto, Canada, and owns and operates a number of key properties including Ortsbo, Ad Taffy, itiBiti and Magnum.
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.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.