Toumaz shares jump on Frontier deal Shares in Toumaz jumped this week after the developer of low-power wireless technology agreed to buy out Frontier Silicon, a London-based supplier of audio chips. Aim-quoted Toumaz said it would partially fund the acquisition - consisting of an upfront cash payment of £27m and a performance-related payment of as much as £5.2m - through a £29m share placement. IN UK Small Companies Analysts said the purchase of Frontier would broaden Toumaz's reach beyond its core healthcare remit into the audio chip market, and would add research and development centres in Cambridge, Ireland and Hong Kong to the group's portfolio. Toumaz, which is backed by UK graphics chip designer Imagination Technologies, placed 286m shares at 10.25p each - a 10 per cent premium to market price on the day of the placing. "Bringing these two innovative UK technology companies together will enable the enlarged group to exploit the strengths and opportunities of both businesses," said Anthony Sethill, Toumaz's chief executive.