TORONTO, CANADA and NEW YORK, NEW YORK -- (Marketwired) -- 08/26/13 -- Ortsbo, Inc. (a subsidiary of Intertainment Media Inc. (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T) announces that is has signed a strategic partnership and services agreement with a private Telecommunications Consulting Group to work with Ortsbo to facilitate sales of the Ortsbo Software as a Service (SaaS) language technology to major global business process outsourcing firms, telecom companies and to call center and communications technology providers.
The agreement, which is for an initial period of two years with an option to mutually renew, identifies a number of industry leading potential clients that already have an existing relationship with the consulting group and provides potential, not guaranteed business targets in the range of up to 20,000 installed "seats" using the Ortsbo technology.
The partnership also provides the right for the consulting group to invest up to $1 Million in an approved future Ortsbo equity offering as determined by Intertainment Media.
This agreement follows an announcement by Ortsbo with TELUS International last week and an agreement signed earlier this year with StarTek Inc.
"Ortsbo continues to establish itself as a global leader in enabling multi-lingual customer care services via its cloud based, SaaS platform that connects easily and seamlessly with existing Customer Care technology," said Ortsbo President & CEO, David Lucatch. "Our goal is to quickly and efficiently roll out Ortsbo to BPO's, direct relationships, telecom companies and technology providers. This agreement and the expertise of the team will allow us to accelerate our ongoing sales programs."
As the need to globalize business practices continues, providing customer support, care and communications across a wide range of languages can be costly and logistically challenging. Today, there are many instances where companies cannot deliver service and support in all of the languages represented by their customers in real-time across its communication initiatives.
The Ortsbo Global Customer Care platform makes it possible for a company's customer care and support services providers to establish web-based customer care across languages cost efficiently and in real-time.
As an example, a customer service or support agent in on offshore location can now work in English, conducting web-chats with customers in a multitude of languages. During a chat session, agents can type in their native language with the customer receiving a response in his or her own language. Conversely, the customer types in their native language with the agent receiving the reply in his or her native or preferred language. Ortsbo's proprietary and patent pending technology tunes the language for the particular domain and customer care context. As a result, the customer experience rivals the speed and accuracy of staffing with multi-lingual agents.
In the current state of the market, companies typically pay a significant premium for multi-lingual agents, require a minimum core team offering a language and depend heavily on locally available language capabilities. With the Ortsbo Global Customer Care solution, geographical availability, language training and other premiums are not required as a customer care center simply enables the current agents without having to make special staffing accommodations for each additional language. This represents an order of magnitude value proposition for most customer care operations.
Central to Ortsbo's sales and market leadership strategy is to partner with organizations that have a significant presence in the global customer care arena.
About Ortsbo Inc. (www.ortsbo.com)
Ortsbo enables real-time, cross-language communication experiences. Delivered as a Cloud, Software as a Service (SaaS) in combination with professional computing services, Ortsbo can be embedded into high value communication processes and internet endpoints to create dramatic value across more than 65 languages. Based on invention and proprietary technology, Ortsbo creates unparalleled, high-fidelity experiences. Ortsbo is a portfolio company subsidiary of Intertainment Media Inc.
About Intertainment Media Inc. (www.intertainmentmedia.com)
Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties including Ortsbo, Deal Frenzy, BlackBox Loyalty and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com, CapThat.com, Poynt, Ad Taffy, itiBiti and Yappn. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.
Intertainment is headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSX VENTURE: INT) and in the US on the OTCQX Market under the symbol "ITMTF". Intertainment is also traded in Europe on the Open Market (Regulated Unofficial Market) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".
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.
President & CEO
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