Blackbird (LON: BIRD) shares are on the rise Thursday after it announced the launch of its core technology licensing solution, ‘Powered by Blackbird.'
The technology licensor, developer, and seller of the cloud native video editing platform said the licensing solution will enable advanced cloud native functionality and drive significant efficiencies for video companies.
“By licensing the company's core video technology and being ‘Powered by Blackbird', companies can build their own cloud native video platforms including frame accurate, renderless editing in a browser with bandwidth from just 2 Mb/s,” Blackbird said in a statement.
The announcement comes not long after the AIM-quoted firm revealed it had agreed a 5-year technology licensing deal with a global broadcast company last month. The company has announced several other deals this year including a cloud video production agreement with CBS Sports Digital.
Blackbird's CEO, Ian McDonough, said: “Blackbird's proven and patented technology enables advanced editing and manipulation in the cloud whilst reducing infrastructure costs by up to 75% versus traditional cloud based platforms. Vitally, as the planet moves to net zero carbon, Blackbird is able to operate at less than 10% of the carbon footprint of its competitors.
“Those companies who license ‘Powered by Blackbird' will realise these efficiency savings, rapidly improve functionality, move to efficient cloud native workflows and reap the benefits of being truly SaaS.”
Blackbird's share price is currently trading at 32.1p, up 1.75%, adding to its over 60% year-to-date gains.
Should you invest in Blackbird shares?
Blackbird shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are BIRD shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies