5th Mar 2014 10:34
LONDON (Alliance News) - Forbidden Technologies PLC said Wednesday that it had established a new subsidiary in the United States, Forbidden Technologies Inc.
Forbidden owns and develops a cloud video editing platform, FORscene.
The company's new subsidiary is based in Burbank, California, and is being led by General Manager of North American Sales and Strategic Partnerships, Brian Boring.
Forbidden expressed confidence that this new permanent North American presence put it in a strong position to exploit the adoption of cloud-based video editing in the region.
"The market for Broadcast, Sports and News video editing in North America is estimated to be ten times larger than in the UK," said Chief Executive Officer Stephen Streater in a statement. "We firmly believe that we are creating a strong foundation for growth in this geography."
Shares in Forbidden Technologies were trading down 3.00% at 29.10 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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