Forbidden Technologies confident to expand as growth builds

Friday, Apr 01 2011 by
3
Forbidden Technologies confident to expand as growth builds

Forbidden Technologies (LON:FBT) , the company behind the development of the FORscene Cloud video editing platform, said this week that it had made strong progress during the last year in laying the foundations for its technology and selling it to its three key strategic markets. FORscene is a Cloud-based editing suite that has been developed by Forbidden for the broadcast post-production, professional web video and user generated video markets.

In the broadcast post-production and professional markets, Forbidden said it had seen “encouraging progress” with sales to this segment doubling during the year as market recognition of FORscene increased. Overall sales increased by 33% to £0.4m with net losses coming in at £0.1m. Cash in the bank at the end of 2010 stood at £1m, helped by a £1.6m share placing last October, which wiped out the company’s debt and brought in more institutional investment support.

Forbidden is pursuing a strategy of agreeing deals with systems integrators to build and sell their own Cloud servers, running Forbidden’s software, and to provide FORscene to their customers around the world. Deals have already been signed with the likes of Siemens South Africa, Siemens India and Ericsson (Nasdaq: ERIC) and others are in the pipeline. In addition, broadcasters, facilities houses and production companies including ITV, Envy and All3Media are successfully using the FORscene platform, which has now handled more than 1,500,000 hours of professionally shot content. Its technology, which has been operational since 2004, allows for instant back-up, low running costs and is machine neutral – meaning that users can lets users jump from mobile to PC to Mac and back again.

Stephen Streater, the chief executive of Forbidden, said that the company’s organic year on year sales growth of over 30% had given it confidence to continue to invest in expansion. He noted that Forbidden still had a notable lead in the broadcast market. “Six years after FORscene’s launch, other companies are starting to incorporate Cloud elements into their post-production; but there is no system to rival FORscene for power and price,” he said. “In professional web, potential rivals are more dispersed, and Forbidden’s full end-to-end post-production Cloud service has many advantages in an increasingly connected world.”

More recently, the company introduced a mobile version of its Clesh consumer editing system specifically for tablets and smartphones using Google (Nasdaq: GOOG) Android technology. It is aiming to fulfil the emerging needs of tablet users to clip, edit and publish video to friends, family and wider audiences. With an intuitive, sophisticated 'app' at a modest cost of £2.49, it is expected to provide a significant number of consumer users.

Vic Steel, the chairman of Forbidden Technologies, said: “With an excellent technology, increased awareness and a growing number of strong partnerships, the building blocks are being solidly formed in three of our key strategic markets: broadcast post-production, professional web video and user generated video. Throughout the 2010 year, Forbidden has been increasingly active at conventions, seminars and relevant associations, with the purpose of widening awareness and recognition of our name, products and technical excellence and reliability. The company has recently increased its resources both in R&D and in market development and is now pursuing growth with vigour and confidence.”


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Forbidden Technologies plc is a United Kingdom-based company engaged in the development and commercial exploitation of cloud-based video technology. The Company is engaged in developing cloud video platform used for its Forscene professional editing suite, its video social network, eva, and its online video editor, Captevate. The Company's products are delivered through an integrated Web-based platform. The Company's cloud-based technology and products enable news and sports broadcasters to get their Web and mobile highlights to markets; help post-production and broadcast clients; allow brands, influencers and celebrities to access audiences and their authentic content, and allow consumers to edit and share video in a new way. Forbidden Technologies Inc is the subsidiary of the Company. more »

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