LONDON (Alliance News) - Frontier IP Group PLC on Tuesday said it took 24% interest in Cambridge Material Testing Solutions to expand its portfolio.
The asset management company said Cambridge Material was established to support the work of mechanics & deformation of materials specialist James Dean.
Dean has previously worked for a systems & engineering technology company Frazer Nash Consultancy and Double Precision Consultancy.
Cambridge Material is developing software and hardware to measure material characteristics in critical metal components. the company also specialises in mobile and remote testing.
"Frontier IP is delighted to be working with James Dean and his team to help accelerate the commercialisation of this exciting technology," said Chief Executive Neil Crabb.
"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," added Crabb.
Shares in Frontier IP were trading 3.1% lower at 78.00 pence per share on Tuesday.
Frontier Ip (FIPP)