Forbidden Technologies Shares Soar on Contract Win with YouTube

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British web-based video editing developer Forbidden Technologies plc (LSE:FBT) announced today that its video editing platform will be used by the world’s largest online video site for the upcoming London 2012 Olympic Games, sending shares of the AIM-listed company to the top of the trading board.

YouTube, part of the tech giant Google, will use Forbidden Technologies’ cloud-based professional editing tool, FORscene, as part of the company’s “strong commitment to providing quality content”.

“FORscene is being integrated into a larger YouTube system for use by multiple YouTube clients for professional editing of dozens of live and near-live sports feeds this summer,” Forbidden Technologies said in a statement.

YouTube was granted the licence in December 2011 “to support remote video editing and publishing for web and broadcast delivery”.

The contract with Youtube, the value of which was undisclosed, is Forbidden Technologies’ third for the year, following deals with South East Asia newsroom computer systems distributor Techtel and Cardiff-based post production company Gorilla Group.

Forbidden Technologies has been licencing FORscene to third parties for use in editing high definition sports video stream in its move to enter the “relatively high value sports sector”, with the technology now being used by a major US TV network in its broadcast sports workflow.

Executive Comments

YouTube’s Global Head of Sports Content Partnership, Claude Ruibal, commenting on the deal for an undisclosed value, said:

“As the world’s leading video site, YouTube has a strong commitment to providing quality content, and sport is a significant part of this. I am delighted to be using FORscene’s exceptional cloud-based video platform for the cloud editing and transcoding components of YouTube’s offering.”

Stephen Streater, Chief Executive Officer of Forbidden Technologies said:

“FORscene’s scaleability and ability to edit content as it comes in are well suited to sport. I am happy to have found an opportunity to demonstrate FORscene’s capabilities in a major sports project.”

Company Spotlight

Forbidden Technologies plc is a UK-based developer of web-based solutions for video post-production, with FORscene as its main product, desiged for the professional broadcast market. The company also has a consumer-focused product known as Clesh.

Listed on the Alternative Investment Market since 2000, Forbidden Technologies shares jumped 26.8% to 26 pence per share at 2:00 PM GMT, following the news.

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