Shares in Forbidden Technologies jumped by as much as 19% last week after the company announced that an un-named UK broadcaster has started a 12-month paid-for proof-of-concept study using its cloud-based video editing tool Forscene.
Aziz Musa, chief executive of Forbidden Technologies, said: “This has the potential to be the most significant deal that the Company has struck to date.
“The proof of concept generates revenue immediately, and a successful proof of concept would open up significant revenue opportunities.”
The company also announced that non-executive director David Main has taken on the role of non-executive chairman.
Stephen Streater, the founder of Forbidden and current executive chairman, is now director of R&D. He said: “As chairman, I was able to support Aziz in his new role as CEO.
“Now Aziz has established himself and is demonstrating his success daily, and with David agreeing to become our chairman, I can focus again on my core area of interest – maintaining our leadership in video technology solutions.”