New technology, referred to by the acronym -MAGDA (MAGnetically Driven Assembly), for building multi-component systems out of diverse types of nanodevices, is being developed. One setup employs colloidal magnetic particles as carriers of different nano-components. These carriers are directed by arrays of programmable ferromagnetic nano-traps and by an external magnetic field. Another setup involves magnetic masks formed by 5-10 nm iron oxide particles densifying over an array of magnetized alignment marks. On the simulation side, new "flexible approximation" methods with a wide range of nano- and molecular scale applications are presented. © 2004 IEEE.