25 May 2012

Forbidden ties up with YouTube

12/12/2011 Miles Nolan

Shares in video specialist Forbidden Technology (FBT) have almost doubled this morning on news of a major tie-up with YouTube.

The Wimbledon based firm has licensed its FORscene Cloud editing platform to the world's leading video site YouTube - a major endorsement of its technology. AIM listed Forbidden floated on AIM in 2000, but has hitherto been selling mainly into the professional market, the announcement today should help significantly broaden its audience.

Every day YouTube gets over 2 billion video views, and every minute 35 hours of content are uploaded. Forbidden will provide its FORscene product in a larger integrated system, which will be used by YouTube to support remote video editing and publishing for web and broadcast delivery.

YouTube already has its own system, so this is a major coup for Forbidden. Speaking to Growth Company Investor chief executive Stephen Streater said 'the deal (with YouTube) will put us on the map and massively increase our profile.' There are no numbers as yet but Forbidden boasts of a 'significant contribution over the next twelve months.'

Forbidden has over 2,000 private shareholders - moreover, they are entitled access to receive free software. Using its technology there is the option to upload video to Facebook and YouTube very easily, in addition it has developed an Android product so videos can be shot and delivered via a Smartphone to the internet quickly.

Now fully funded, the agreement with YouTube is a major shot in the arm, so the 94 per cent price jump to 30.5p today is not surprising. There is likely to be more to go as traction builds.

Tags: AIM market, Android, Stephen Streater, Well financed, YouTube

Sector: Software & Computer Services

Companies: Forbidden Technologies

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