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Forbidden Technologies jumps 25% after Microsoft deal

Discussion in 'Market News' started by Lily, Mar 17, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    US corporation to sell Forbidden Technologies’ cloud video platform

    Forbidden Technologies has seen its market value soar by more than a quarter after it signed a cloud computing deal with Microsoft.

    The AIM-listed business is up 2.375p at 11.625p, having climbed as high as 15p, as it announced the US corporation would sell the company’s cloud video service Forscene through its Azure marketplace. Forbidden Technologies said the agreement gives it access to Microsoft’s sales force and a new sales channel, as well as representing a significant validation of its technology. Chief executive Aziz Musa said:

    Whilst we expect to generate some income directly from this agreement in 2016, we anticipate its financial impact being most acutely seen from 2017.

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