Intertainment's Ortsbo receives $30 mil takeover bid
Unsolicited offer came from North American investment firmTORONTO -- Canadian new media player Intertainment Media said its upstart subsidiary Ortsbo has received a $30 million takeover bid for its social media real-time translation software.
The unsolicited offer came from an unspecified North American investment firm that seeks technology from Ortsbo that enables real time translation of online conversations in over 50 languages for social media sites, chat and email offerings, including Facebook and Google Talk.
Toronto-based Intertainment said it is reviewing the offer, which is subject to due diligence and shareholder approval.
Ortsbo debuted on July 22, 2010, and has generated translation revenue from over 387,000 unique users in over 500,000 online sessions.