Telecom Lead America: Poynt, Intertainment Media and
Ortsbo have finalized a joint venture agreement, which provides for the
integration of Intertainment’s real-time experiential language platform, Ortsbo
into the Poynt platform.
Under the JV agreement, Poynt has undertaken to integrate
Ortsbo, initially as an available item on the Poynt carousel, into the Poynt
Platform and provide Intertainment with mutual access to, and use of, its
advertising inventory.
“Providing users with an immersive local experience
has always been important to Poynt Corp. and the integration of Ortsbo will
allow Poynt users to have translation capability within the application in
real-time in the language of their choice,” said Andrew Osis, CEO of Poynt
Corp.
Additionally, Intertainment has agreed to provide Poynt
with secured debt funding in the amount of one and a half million
Canadian dollars in order to facilitate, among others, the integration of
Ortsbo and the ad inventory into the Poynt Platform, as well as for general
working capital purposes.
The JV will also investigate complementary revenue
generating opportunities, including additional real-time experiential
translation opportunities, and the integration of Intertainment’s Ad Taffy
click-to-call technology.
“The Ortsbo real-time experiential language
technology when combined with Poynt will provide an unmatched local service
offering on a global basis, truly allowing consumers to increase their utility
within each platform” said David Lucatch, CEO, Intertainment and Ortsbo.
The JV Agreement provides that the gross revenues
generated from the integration of Ortsbo experiential translation functionality
and the reciprocal exchange of ad inventory will be shared equally between
Poynt Corp. and Intertainment. Other revenues to be included and shared will be
determined as opportunities arise.
Recently, Poynt
entered into a joint venture with China Youth League affiliated entity, China
Youth Goyor Technology (Beijing). This is part of the company’s expansion into
Asian market.
