Frontier IP is an intellectual property developer that has relationships with the University of Dundee and Robert Gordon University in Aberdeen. It takes stakes in companies set up to exploit technology developed at the two universities. There are plans to link up with other universities. The company joined Plus-quoted in May 2009. The original Plus-quoted flotation price was 100p a share – 1p a share prior to a 100-for-one consolidation in December 2010 – when the business reversed into Plus-quoted shell ARH Leisure Management. At that time £630,000 was raised. Frontier IP transferred to Aim on 31 January 2011. It raised £1m gross (£800,000 net) from a placing at 50p a share prior to its move to Aim. That valued the company at just short of £3.5m.