Toumaz buys Frontier in £32m deal
Ultra low power comms technology specialist Toumaz is buying Frontier Silicon in a deal which values the latter at 'up to' £32.3million.
Anthony Sethill, pictured, Toumaz' chief executive – until recently, Frontier's ceo – said: "This acquisition is consistent with our strategy for providing ultra low power, high performance wireless communications across the healthcare, fitness and consumer electronics markets.
"Bringing these two innovative UK technology companies together will enable the enlarged group to exploit the strengths and opportunities of both businesses.
Frontier, which has annual revenues in excess of £22m, is said to bring 'important electronic engineering resource' to Toumaz through R&D centres in the UK, Hong Kong and China. The two companies are also said to have a strong technological alignment, bringing the opportunity to create a 'genuine total solution provider'.
Sethill added: "Our wireless solutions have huge potential and combined with the software systems, commercial expertise and tier one customer access of Frontier, will create a significant total solution provider for the wireless communications market.
"This acquisition will also enable us to strengthen our commercial presence and provides us with essential engineering and R&D resource, allowing Toumaz to accelerate its profitable expansion towards becoming the global leader in complete wireless platforms."
