Forbidden Technologies surges on Youtube deal

Shares of Forbidden Technologies surged over 90% on Monday after it announced that it has licensed its FORscene Cloud editing platform to YouTube.

No financials details were released in the company statement however the group said, " the agreement will make a significant contribution to the performance of the company over the next twelve months."

"As is usual in bigger projects, FORscene will provide the Cloud editing element in a larger integrated system. YouTube will use Forbidden Technologies' FORscene platform to support remote video editing and publishing for web and broadcast delivery," Forbidden Technologies explained.

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Shares in the group rose around 90p in early trading, to 29.5p valuing the group at £25m.

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