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 that, in collaboration with a global US technology giant, it has agreed a paid for 12-month Forscene proof of concept, starting this month, with a major UK broadcaster.
The proof of concept allows one of the broadcaster’s largest departments to engage in efficient cloud-based workflows, allowing significantly reduced post-production cost across the department. The proof of concept, which is charged at rate card rate, will be used on broadcast productions over the coming 12 months.
Forbidden Technologies has worked closely with the US technology giant, which is a major supplier of non-linear editing software, over a number of months. The resulting integration will deliver a transformative workflow to this client.
A successful application of the workflow would allow the Company to expand its presence across the broadcaster, offering significant upside potential. It is also expected to lead to Forbidden enjoying both access to the US company’s clients and marketing of the workflow.
Aziz Musa, CEO of Forbidden Technologies, said:
“This has the potential to be the most significant deal that the Company has struck to date. The proof of concept generates revenue immediately, and a successful proof of concept would open up significant revenue opportunities.”
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.