Systems Integrator Update
Forbidden Technologies plc, the owner and developer of the FORscene Cloud video platform, is pleased to report on progress with its Systems Integrator strategy.
Forbidden has built its own Cloud video infrastructure which it uses to service its post-production clients in the Broadcast and Professional Web markets. Last year, Forbidden announced that it was looking to extend its market penetration by signing deals with Systems Integrators, who have the technical ability to build their own FORscene Cloud Servers to support their own clients.
To date, three such agreements have been signed, including the one announced earlier this morning. These agreements allow Systems Integrators to build and sell their own Cloud Servers, running Forbiddens software, and to provide FORscene to their customers around the world. Each Systems Integrator will support its customers directly, enabling Forbidden to drive onward the development of the FORscene platform.
The income Forbidden expects from deals being discussed between the Systems Integrators and each of their clients is expected to be typically of an order of magnitude larger than Forbiddens individual direct sales to broadcast post-production clients.
In recent months, Forbidden Technologies has signed deals with two regional and one global systems integrator. Whilst these deals have yet to result in an order for a complete Cloud system, the Systems Integrators are actively promoting FORscene to potential clients. Money from preliminary work is already starting to trickle in.
Although the major step change in revenue resulting from customers of the Systems Integrators did not come through in the last quarter of 2010, the Board is pleased with the organic growth in both customer numbers and size of orders for its own Cloud Servers, and the ability of its Cloud infrastructure to support this growth. The Board feels that the increasing revenue from its own Cloud underpins the value of FORscene to Systems Integrators and their potential clients.
Stephen Streater, CEO of Forbidden Technologies, said:
"The willingness of Systems Integrators to adopt FORscene validates Forbiddens strategy of approaching them during last year. Their access to world markets will make a significant impact on Forbiddens chances of being a major player in the market for professional Cloud-based video tools."
Greg Hirst, Business Development Director of Forbidden Technologies added:
"All the Systems Integrators mention the need for patience in our dealings with them, as the nature of their businesses demands that customer projects are carefully planned and well thought-out. The recent agreements follow several months of detailed discussions and support my belief in the potential of Forbiddens growth strategy."
About Forbidden Technologies
Forbidden Technologies plc (AIM: FBT, www.forbidden.co.uk) floated in February 2000.
The Company develops and markets a powerful internet 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 applications, operating in The Cloud.
Forbidden Technologies plc
Stephen Streater, CEO
Tel: +44 (0)20 8879 7245
Neil Baldwin, Nominated Advisor
Tel: +44 (0)845 213 4726
Duncan McCormick/Deepali Schneider/Natalie Quinn
Tel: +44 (0) 20 7562 3350