Forbidden Technologies plc (AIM: FBT), the AIM-quoted owner and developer of Forscene (the market-leading cloud video platform), Captevate (the consumer video editor), and eva (the video social network), is pleased to announce it has agreed a deal with an existing client, a global leader in digital services, for it to supply a South African Government authority with Forscene in order to address the demand for video editing staff from the public broadcast sector.
The deal will see Forscene used as a training tool for unemployed youth, learners and teachers. The initial paid pilot phase of the project will be with 150 students. Following a successful pilot, 150 new students are expected to be added every quarter, with the Company moving to an annual licensing deal in the later part of 2016.
This deal demonstrates that Forbidden can successfully extend the reach of its ground breaking Forscene product by selling through international intermediaries and systems integrators.
Deputy Minister Stella Ndabeni-Abrahams said during the 2015/16 South African Budget speech:
“SABC and MDDA [Media Development & Diversity Agency] will support the community radio sector, through the programme production initiative which will be targeting young people. In partnership with Forscene we are going to train unemployed youth, learners and teachers on Online Video Editing Software.”
Jason Cowan, Business Development Director at Forbidden Technologies, said:
“This deal has been in the pipeline for some time and we are delighted to have begun the proof of concept. Whilst there’s no guarantee that the full scope will be signed off we are extremely confident that the benefits Forscene can deliver in this project are significant.”
Aziz Musa, CEO of Forbidden Technologies, said:
“Aside from the revenue significance of this deal, I am delighted that the team have been able to revive existing global deals that we signed in years gone by. This deal is another result of our strategy and focus working.”
Forbidden Technologies plc
Stephen Streater, Chairman
Aziz Musa, Chief Executive
Tel: +44 (0)20 8879 7245
Allenby Capital Limited (Nominated Adviser and Broker)
Tel: +44 (0)20 3328 5656
Redleaf Communications (Financial PR Adviser)
Tel: +44 (0)20 7382 4730
About Forbidden Technologies plc
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops and markets a powerful cloud video platform, which is used by broadcasters, in professional web video, in education and by consumers. The Company platform is one of the world’s most advanced browser-based and mobile platforms, which underpins Forscene in professional markets, its eva video social network and its new consumer video editor, Captevate.