TORONTO, CANADA -- (Marketwire) -- 01/03/13 -- Ortsbo, Inc (a subsidiary of Intertainment Media Inc. (TSX VENTURE: INT)(OTCQX: ITMTF)(FRANKFURT: I4T)) announces the launch of its first localized business agreement effectively creating a partnership in The People's Republic of China. To lead this office, Ortsbo has engaged Matt Vegh, CEO of Middle Kingdom Studios, a leading film, media and tech financing fund and consultancy based in Chengdu, China; Fortune Magazine's choice for the 2013 Fortune Global Forum. Chengdu is the capital of Sichuan province in Southwest China and is one of the most important economic, transportation, and communication centers in Western China. Chengdu is the heart of the Sichuan National Promotion Base for the Game and Animation Industries, a government entity responsible for overseeing hundreds of game, app development and animation companies in the Province's IT and software parks.
"We recognize the importance of both China, but also the Chengdu region as a leader in software and computer gaming," states Ortsbo CEO, Patrick Bultema. "What's more, Matt Vegh is the right partner to serve as a bridge to the opportunities we can create together in China." Mr. Vegh has been in Chengdu for 13 years and has built key regional relationships, as well as ties to major Beijing based tech and media investment.
Middle Kingdom's Matt Vegh added, "I am pleased that Mr. Bultema and the Ortsbo team have recognized the potential of the Chengdu IT community and decided to establish a representative office here. As a long-term supporter of the city, having co-hosted and key-noted many international forums and conferences here over the years, I can say from experience, that Chengdu game companies and app development companies are gearing up to conquer this space. Ortsbo, with its customer care solutions, in-game real-time multi-language chat functionality, event globalization, Global Market communications and social media plug-in products is an ideal partner for many companies here."
Earlier this year, Patrick Bultema, visited Chengdu to speak at a Technology Summit, which was held in the New Century City Convention Center located in the South Hi-Tech Zone and beside the Tianfu Software Park where over 500 IT companies ply their trade. Co-hosting the summit with Middle Kingdom Studios was Middle Kingdom's partners and co-tenants of the new Chengdu Animation Superbase; the Sichuan National Promotion Base for the Game and Animation Industry, one of the leading governmental agencies in China in the sector and responsible for promoting integration of advanced technology among companies in its charge and more particularly, integration and adoption of advanced foreign technology through joint ventures, strategic alliances and other forms of potential cooperation.
"Our focus is on making it possible for people to communicate across languages on the internet," says Bultema. "Clearly, China represents one of the biggest cross-language opportunities as it becomes an increasingly prominent part of the process of globalization. I'm impressed with the software companies I've already met with in China, and I'm enthusiastic about our partnership with Middle Kingdom lead by Matt Vegh."
Ortsbo (www.ortsbo.com) enables real-time, cross-language communication experiences. Delivered as a Cloud computing service, 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. With offices in Colorado, Austin, Los Angeles and New York, Ortsbo is a portfolio company subsidiary of Intertainment Media (www.intertainmentmedia.com).
About Middle Kingdom Studios
Middle Kingdom Studios, along with its primary business of sourcing funding for major Hollywood studios seeking to gain access to Chinese investment for their film slates, has recently partnered with the Sichuan National Promotion Base for the Game and Animation Industries and has built its own cloud, VFX, animation and editing facilities, where it will utilize the resources of the base's over 2,000 animators, 1,500 app developers and a talent pipeline coming directly out of the city's Universities including the University of Electronic Science and Technology, as well as Sichuan University, to train new talent, incubate and jointly fund new ventures with start-ups in the two sectors.
About Intertainment Media Inc.
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 Ad Taffy, itiBiti, Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com. 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".
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.
Patrick Bultema, President
For Intertainment Media Inc.:
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