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Refocused Forbidden Technologies set to grow

Video editing specialist Forbidden Technologies is poised for a period of sustained revenue growth after achieving revenue expectations for 2015, it said.

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Traction is growing for eva, the firm said..

Video editing specialist Forbidden Technologies (LON:FBT) is poised for a period of sustained revenue growth after achieving revenue expectations for 2015, it said.

The firm has refocused in recent months, and now has a new chief executive Aziz Musa, formerly head of marketing.

Its focus is now on commerciality and growing the top line.

It has three products, built from the cloud platform - Forscene, for professional video editors, Captevate, a subscription- based online editor for novices, and eva - a mobile video social network concept.

The professional editing market is worth US$366 million and contains multiple verticals, including news, sport and entertainment.

In news, Forbidden said it will leverage the competitive advantages associated with Captevate and Forscene, namely speed of use, to rebuild the sector into an important source of growth.

Growth in sports exceeded management's expectations last year and the group will continue to focus on increasing and diversifying Sports clients

In the education space, the group is currently in discussions around selling Captevate as a storytelling tool for media student

For eva, Forbidden has a growing pipeline of brands and influencers interesting in leasing the platform's channels.

Stephen Streater, now chairman of the group, said: "Forbidden has for many years devoted itself to developing exceptional technology but the challenge has consistently been converting that into significant sales.

"The last few months have seen the biggest step change in the Company since inception and I firmly believe that, under the commercially driven leadership of our new CEO, Aziz Musa, we now have the right structures and expertise in place to deliver a period of sustained revenue growth.

"2015 has been a year of stabilisation - we have achieved our revenue expectations and look forward to growing the business in 2016 and 2017."

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