Intertainment Media announced today that the Company has made an investment in Los Angeles, CA and London, UK based theAudience, Inc., recognized innovators and leaders in social media distribution for entertainment brands.
Concurrent with the investment, Intertainment and theAudience have entered into a separate binding agreement to integrate the Live & Global platform from Intertainment subsidiary Ortsbo Inc. into theAudience’s social distribution platform, enabling real-time, multi-lingual translation for certain live events on behalf of theAudience clients and partners. The companies will jointly promote the integrated offering.
“As part of Intertainment’s mandate to provide investment, nurture and grow emerging technologies and social media platforms, we are delighted to have this opportunity to partner with theAudience,” said David Lucatch, CEO of Intertainment / Ortsbo. “In addition, theAudience’s vast global reach and market-leading relationships with celebrities and entertainment brands provides a compelling way for Ortsbo to accelerate its mission to remove the global language barrier delivering seamless, real-time, experiential language services across digital platforms”.
Terms of the investment are not publicly disclosed at this time. The Company will provide updated information as it becomes available.
As previously announced, Intertainment Media Inc. continues to move forward with its plans to “spin out” Ortsbo as an independent structure for listing on senior Exchanges in Canada and the United States. This transaction will be subject to all applicable board, shareholder and regulatory approvals.