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Intertainment Media spinning off Yappn chat business to Brooklyn-based Plesk
TORONTO - Toronto-area high-tech investor Intertainment Media Inc. (TSXV:INT) plans to spin off its Yappn multilingual online chat business to Plesk Corp. of Brooklyn, N.Y. Intertainment will receive about 70 million shares of Plesk, or about 60 per cent of its outstanding equity, worth about $7 million. Based in Richmond Hill, Ont., Intertainment's primary business is the Ortsbo real-time language translation system, which will continue to serve Yappn.
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