Search Share Prices
Frontier IP scoops 24% stake in James Dean's material testing firm
Intellectual property firm Frontier IP Group on Tuesday confirmed that it has acquired a 24% stake in mechanics and material deformation company Cambridge Material Testing Solutions (CMTS).
The AIM traded company said CMTS is currently developing software and hardware to measure the material characteristics of critical metal components, such as their brittleness and remaining working life, in order to make testing equipment more mobile.
Current testing equipment, which is essential for the aerospace, nuclear, and oil and gas industries, is bulky and can only be used in a laboratory environment.
James Dean, chief technology officer of CMTS, said: "With Frontier IP's expertise in the commercialisation of advanced technologies and its ready access to the sectors we intend to penetrate, where the accurate and non-destructive characterisation of material properties is crucial to the safe operation of high value assets."
CMTS was established in order to support the word of mechanics and materials expert James Dean, formerly of Frazer Nash Consultancy and Double Precision Consultancy.
Neil Crabb, chief executive at Frontier IP, said: "Frontier IP is delighted to be working with Dr James Dean and his team to help accelerate the commercialisation of this exciting technology. We believe Cambridge Material Testing Solutions could prove invaluable to companies in critical sectors which need to ensure the materials they use are safe and robust."
As of 0834 BST, Frontier IP Group's shares were down 3.59% at 80.50p.