Forbidden formalises agreement with Atos
Forbidden Technologies, the AIM quoted owner and developer of the FORscene cloud-based video editing platform, is pleased to announce that Atos (Pty) Ltd (“Atos”), a systems integrator in South Africa, has entered into a contract with Forbidden. The formalisation of the contract follows the memorandum of understanding agreed in September 2012.
The licence agreement allows Atos to add FORscene to its South African portfolio of solutions and to run its own FORscene Cloud,
providing hosting and administration, customer support and consulting on web-enabled workflow solutions to media clients in South Africa and across the African continent, including broadcasters, advertising agencies and advertisers in the African region.
The licence provides for a relatively small up-front payment to Forbidden, with the majority of revenue expected to arise from royalties as Atos clients licence the platform from Atos.
Up to this point, all FORscene Cloud Servers have been built, run and supported by Forbidden. The licensing of the first full FORscene Cloud Server by a major systems integrator rapidly adds delivery capacity by making FORscene available through a third party with global reach. The installation of the Atos FORscene Cloud Server is planned to begin this month.
Stephen Streater, CEO, Forbidden Technologies, said:
Following the memorandum of understanding agreed in September, I am delighted to formalise the agreement with Atos. The deal represents a significant moment in Forbiddens global ambitions and is testament to the strength and international reputation of the FORscene platform as producers become increasingly aware of the benefits of cloud video workflows.
About Forbidden Technologies
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops and markets a 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.
For more information, please visit www.forbidden.co.uk or contact:
Forbidden Technologies plc
Stephen Streater, CEO
Tel: +44 (0)20 8879 7245
Cenkos Securities plc, Broker
Adrian Hargrave, Corporate Finance
Alex Aylen, Sales
Tel: +44 (0)20 7397 8900
Nick Rome / Sam Allen / Matthew Low
Tel: +44 (0)20 7562 3350