25 May 2012

More deals for Forbidden Technologies

01/10/2010 Robert Tyerman

Video platform developer Forbidden Technologies could follow a recent licensing deal with Siemens with another involving a major European group, say observers.

Last month, the AIM-quoted company, developer and marketer of market leading cloud video platform FORscene, licensed its FORscene Cloud infrastructure with the German electronic and electrical engineering giant's Siemens IT Solutions & Services division in South Africa and market watchers believe a similar arrangement, thought to be with a major Scandinavian communications concern, could soon be in the offing, if all goes well.

Wimbledon-based Forbidden, which lost £93,000 in 2009 on £281,000 turnover, more than doubled its deficit to £58,000 in the first half of this year on turnover up 21 per cent to £168,000. The company ended June with cash of £137,500 and an undrawn £1 million loan facility and, said chairman Vic Steel, 'our discussions with major international partners are progressing well.'

Floated at 4p 10 years ago, Forbidden's tightly-held shares, mentioned here last year at 17p, now change hands at 29.5p, twice their year's low, valuing the company at £24 million. If the deal flow is maintained, they could have more mileage yet.

Tags: AIM, Cash, Deals & contracts

Sector: Software & Computer Services

Companies: Forbidden Technologies

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