TORONTO and NEW YORK, Jan. 26 /PRNewswire-FirstCall/ - Itibiti Systems Inc. ("itiBiti"), a wholly owned division of Intertainment Media Inc. ("Intertainment") (TSXV:INT) today announced that it has signed an agreement with US based BlackTorch Capital, LLC ("BlackTorch") to act as its primary advisory agent supporting itiBiti's efforts to formulate and execute its capitalization strategy as well as lead itiBiti's US corporate development efforts.
itiBiti is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing global brands with the unprecedented ability to power their marketing efforts within a unique, white-label social media platform that resides on the computer desktop. itiBiti offers users a suite of services in combination with branded client initiatives, and the power of Microsoft Live services. itiBiti has been acclaimed by Microsoft Corp. as "the next generation of integrated social media applications."
In late November 2009, itiBiti launched its first private label social media platform with NBC.com (www.nbccommunicator.com). itiBiti, with offices in Toronto, New York, San Mateo and Los Angeles has announced the upcoming launch of additional major brand clients in February, of this year, and is now embarking on raising its presence within the global social media and agency community as it looks to further accelerate the growth of its programs.
BlackTorch is actively involved in the technology, broadcast and new media sectors having worked on both the buy-side and sell-side side of over 150 major transactions. Managing Partners Rick Ehrman and Anthony Pence have extensive experience in advising media companies in accretive revenue generation joint ventures. BlackTorch and itiBiti's prime areas of focus are aligned as new and traditional media as well as communications.
Mr. Ehrman was actively involved in a number of M&A and integration transactions while at GE and NBC, including ShopNBC and CNBC.com. Prior to his investment banking endeavours, Mr. Pence was Manager of Corporate Development at Vodaphone, where he led and participated in transactions in Asia and the Americas markets.
"BlackTorch is excited to be able to assist in the growth, and support, of this outstanding opportunity. itiBiti has many significant factors that differentiate it from other social media programs. The ability to leverage brand equity, goodwill, and social media value offers users a truly engaging experience, resulting in incremental revenue opportunities. We believe this will lead to significantly higher company and user valuations in comparison to other social media market equivalents that struggle to create revenue and sustainability," said Rick Ehrman, Managing Partner, BlackTorch Capital LLC.
As major brands begin to embrace a wide selection of social media and digital offerings, itiBiti provides a unique opportunity that allows brands to strengthen relationships with users, influence messaging and provide increasing value, all in a revenue-rich accretive environment.
"itiBiti is delivering tangible results for our brand clients, providing a host of user engagement opportunities that increases relationship value. As most social media platforms are slow to monetize the user's experience, itiBiti and our brand clients are experiencing instant revenue generation, at premium market rates. As we move forward, our goal is to establish a unique, identifiable, stand alone presence for itiBiti," said David Lucatch, President - Itibiti Systems Inc. / CEO - Intertainment Media Inc.
itiBiti is pleased to announce that it will be expanding its US base of operations to include a new office in the Silicon Valley region located in San Mateo, California. This office will provide itiBiti access to additional core development services, expanded partnership programs and business opportunities.
About BlackTorch Capital, LLC
BlackTorch Capital, LLC is a Minnesota based investment bank and financial advisory firm that provides solutions to meet the specialized corporate finance and advisory needs of middle-market, technology-enabled media companies.
Our experienced professionals offer thoughtful, unbiased advice along with personalized attention and expert process management in mergers and acquisitions, capital formation and financial advisory assignments.
We believe in the importance of unbiased advice, high ethical standards, client confidentiality, personalized execution and lasting relationships through our extensive industry and transaction experience, attention to detail and creative solutions, and bring a personal and committed style to meet all our clients' needs.
With over 150 completed transactions, the principals of BlackTorch create innovative corporate growth strategies and corporate finance transactions that enable our clients to achieve critical milestones that enhance long-term shareholder values.
itiBiti is a revolutionary, instant revenue driven, Rich Internet Application (RIA) providing global brands with the unprecedented ability to power their marketing efforts within a unique, private-label social media platform. itiBiti offers users a rich suite of services in combination with brand client initiatives, and the power of Microsoft Live services. Soon, itiBiti Mobile will provide users of major private label branded itiBiti platforms with the ability to continue their user engagement experience with their mobile smartphones.
Itibiti Systems Inc. and its parent company, Intertainment Media Inc., have an agreement with Highway Entertainment to represent itiBiti to clients of Omnicom Media Group worldwide. Omnicom Media Group ("OMG") is the media services division of Omnicom Group Inc. (NYSE: OMC), the leading global advertising, marketing and corporate communications company, providing services to over 5,000 clients in more than 100 countries.
Itibiti Systems Inc. is a wholly owned subsidiary of Intertainment Media Inc., a Microsoft Global Agency partner. With offices in New York, Los Angeles, San Mateo and headquartered in Toronto, Canada, Intertainment is listed on the Toronto Venture Exchange with the symbol "INT". Please log on to www.itibiti.com or www.intertainmentmedia.com to learn more.
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 Intertainment's disclosure documents on the SEDAR website at www.sedar.com. Intertainment 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 does not assume any obligation to update any forward looking information contained in this news release.
SOURCE Intertainment Media Inc.