Frontier Smart Technologies Group Limited acquired Magic Systech Inc. for $4 million on November 26, 2021. The consideration of $4 million was paid in cash, although at completion Magic held cash of $1.9 million, giving a net valuation of $2.1 million for the business. Magic will be integrated into Frontier but the Magic Systech brand will be retained. For the year ended December 31, 2020, Magic reported revenue of $2 million and a profit before tax of $0.4 million. Nick Adams and Alex Price of Stifel Nicolaus Europe Limited?represented Frontier Smart Technologies. Frontier Smart Technologies Group Limited completed the acquisition of Magic Systech Inc. on November 26, 2021.