Development Bank of Wales and HSBC UK completed the acquisition of Avantis.

Development Bank of Wales, a venture capital firm, and HSBC UK, a bank, completed the acquisition of Avantis, a Bridgend-based technology service provider for the marine sector. Financial terms were not disclosed. "Since establishing Avantis only three years ago, we’ve achieved sustained growth and almost doubled our turnover year on year. This deal felt like the next logical step to ensure that we can continue to deliver our vision as a management team based in Wales," Tom David, Avantis CEO.