26th Nov 2021 12:55
Science Group PLC - Cambridge, England-based science and technology consulting company - Expects "another strong operating performance" for 2021, noting it remains in line or slightly ahead of recently upgraded guidance. In progressing strategy for Frontier Smart Technologies, acquired by Science Group in 2019, it has now completed the acquisition of Taiwan-based Magic Systech Inc.
The acquisition further enhances Frontier's proposition including lower production cost technology architecture. Consideration was USD4 million, paid in cash, although at completion Magic held cash of USD1.9 million, giving a net valuation of USD2.1 million for the business. Science Group adds: "While the Frontier acquisition has been highly successful and has made a significant contribution to Science Group, trading in all divisions continues positively."
Current stock price: 428.00 pence, up 1.4% on Friday
Year-to-date change: up 53%
By Lucy Heming;Â [email protected]
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