Poynt Corporation

Poynt Corporation
Times Internet Limited

December 14, 2010 08:01 ET

Poynt Corp and Times Internet Limited, Part of India's Largest Media Services Conglomerate, Bring Poynt to India

The service, called TimesPoynt, to be accessible to over 670 million mobile subscribers

NEW DEHLI, INDIA and CALGARY, ALBERTA--(Marketwire - Dec. 14, 2010) - Times Internet Limited ("TIL") has inked a deal with Poynt Corporation (the "Company" or "Poynt Corp.") (TSX VENTURE:PYN) a leading provider of mobile local search services to make Poynt app available to over 670 million* mobile users in India.

TimesPoynt, as it will be known in India, will provide relevant and local data to the users whenever and wherever they require it. To be available on J2ME devices, Nokia, iPhone, Android and BlackBerry® smartphones, the service will be launched during the first quarter of 2011.

Poynt Corp., a leading provider of mobile local search services, and the internet venture of the Times Group will establish and manage a local version of the TimesPoynt application that will initially feature sections for local restaurants, nightlife, movies, events, weather and mapping. 

"The Poynt application is an excellent opportunity for both the companies to collaborate to provide mobile local search services to the Indian market," said Rishi Khiani, CEO, Times Internet Limited. "The ability of their technology to provide such rich content to basic handsets, their expanding geographic footprint and support for multiple device platforms is an excellent fit for expanding our own product portfolio and we are looking forward to a long and profitable relationship with Poynt."

Andrew Osis, Chief Executive Officer, Poynt Corp., remarked: "Times Internet Limited has proven successful in the internet and mobile spaces with their ability to quickly move upon new ideas and offerings. Because of this, they have amassed relevant local content that will make TimesPoynt a success in the Indian market."

"Their belief that the customer experience is critical to their success aligns with our own. We are happy to be moving forward with this very credible partner to tackle an enormous market," added Mr Osis.

TIL will provide local content that is available through its subsidiary company portals and distribution channels. TIL will also identify and establish relationships for third-party content and services to provide a complete and comprehensive directory of local information for TimesPoynt users in India.

*Telecom Regulatory Authority of India news release dated October 5, 2010: Telecom Subscription Data as on 31st August 2010

About Poynt Corporation

Poynt Corporation (about.poynt.com) develops and operates mobile applications that enhance the consumers' ability to connect with the people and businesses most important to them. Their multi-award-winning Poynt application (www.poynt.com) is a mobile local search service available over BlackBerry smartphones, iPhone and iPod Touch, Android devices and Windows Phone 7. Through agreements with directory and vertical content providers in Canada, the United States, Europe and Australia, Poynt simplifies finding and connecting with businesses, retailers and events wherever and whenever it is most convenient for the consumer. The MyInboxNow offering enables low-end feature phones to behave like smartphones for email access. MyInboxNow is available to mobile operators as a private label solution. Headquartered in Calgary, AB, Canada, Poynt Corp. trades on the TSX Venture Exchange under the symbol PYN.

About Times Internet Limited

Times Internet Limited, (TIL), is the internet venture of India's largest media house - the Times Group. TIL websites are among the fastest growing web-based networks worldwide. TIL has led the internet revolution in India and has emerged as India's foremost web entity, running diverse portals and niche websites. 

Indiatimes.com is TIL's flagship brand. India's state-of the art internet portal encompasses telecom, e-commerce, online advertisement solutions, Communities, events Indiatimes.com is undoubtedly India's preferred online & mobile value-added services destination for millions of surfers & subscribers looking for a rich and diverse digital content.Indiatimes.com, the multi-faceted portal, commands more than 575 Million page views per month. The other key properties in the TIL portfolio are timesofindia.com – world no.1 news site in terms of page views and economictimes.com India's No.1 business news website.

In the mobile space, Indiatimes 58888 is the largest direct-to-consumer SMS and IVR shortcode, accessed by over 50mn consumers across all telecom operators in India.

Our Network:

Indiatimes.com | timesofindia.com|economictimes.com|hotklix.com|timescrest.com| photogallery.com|iTimes.com|zighwheels.com|timescity.com| qna.indiatimes.com | speakingtree.in| live.indiatimes.com| blogs.indiatimes.com| astrospeak.com| gamekhel.com| idiva.com| winesocietyofinsia.com| luxpresso.com| shopping.com| mobile.indiatimes.com|mocolife.com|58888connect.in|business.indiatimes.com|domain.indiatimes.com|

Forward-looking statements

This news release and related disclosure contains forward-looking statements relating to an agreement between Times Internet Limited and Poynt Corporation to build and deliver a localized version of the Poynt local search application to be called Times Poynt, expected number of users of the TimesPoynt application in India, content and services to be provided by TIL, TIL's provision of a local version of the Poynt application, deployment of related local media products and content and other statements that are not historical facts, including statements regarding potential benefits of the integration and possible future discussions. Such forward-looking statements are subject to important risks, uncertainties and assumptions. The results or events predicated in these forward-looking statements may differ materially from actual results or events. As a result, you are cautioned not to place undue reliance on these forward-looking statements.

These forward-looking statements are based on certain key assumptions regarding, among other things: the ability of the Company to integrate the technology and market interest in the integrated technology. Material risk factors that could cause actual results to differ materially from the forward-looking information include, but are not limited to: risks that the anticipated benefits of the integration will not be achieved; risks that the technology cannot be integrated as anticipated or that the integration will function as expected, risks that the usage of the integrated technology will not result in anticipated revenues; risks that the integration will take longer, cost more or result in more management time than anticipated; the deteriorating economic and market conditions that could lead to reduced spending on information technology products; competition in our target markets; potential capital needs; management of future growth and expansion; the development, implementation and execution of the Company's strategic vision; risk of third-party claims of infringement; protection of proprietary information; customer acceptance of the Company's existing and newly introduced products and fee structures; and the success of the Company's brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of new for the Company's products.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.

Contact Information

  • FortyThree PR, Inc for Poynt Corporation
    Evie Carter