Establishment of US Subsidiary
Forbidden Technologies plc (AIM: FBT), the AIM-quoted owner and developer of the market leading cloud video platform, FORscene, is pleased to announce that it has established its United States subsidiary.
Forbidden Technologies Inc is based in Burbank, California and is led by Brian Boring, who was appointed General Manager of North American Sales and Strategic Partnerships in November 2013. The subsidiary will provide a local sales and support presence for clients and partners in the Americas and will advise on the development of US market-specific features.
The US has been slower to adopt cloud-based tapeless workflows, but the transition towards this more efficient approach, led by FORscene, is now underway. The Board is confident that its new permanent North American presence puts Forbidden in a stronger position to exploit this step change and build on the revenues it has already achieved in the region. The launch, just before the globally important NAB Show, is a great springboard for this new company.
Stephen Streater, CEO, Forbidden Technologies plc, said:
"We have successfully pioneered the move to cloud-based workflows in Broadcast Post-Production in the UK, and have seen first-hand the increasing demand for near real-time clipping in Sports and News. The market for Broadcast, Sports and News video editing in North America is estimated to be ten times larger than in the UK. We firmly believe that we are creating a strong foundation for growth in this geography."
Forbidden Technologies plc
Tel: +44 (0)20 8879 7245
Stephen Streater, CEO
Cenkos Securities plc (Nominated Adviser and Broker)
Tel: +44 (0)20 7397 8900
Bobbie Hilliam, Corporate Finance
Alex Aylen, Sales
Redleaf Polhill (Financial PR)
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 the powerful cloud video platform, FORscene, which is used by broadcasters, in professional web video, in education and by consumers. FORscene is one of the worlds most advanced browser-based and mobile applications.