Bank of Scotland has announced a substantial investment in Quartix, a supplier of vehicle tracking systems.
The package totals over £12m and will see Bank of Scotland take a 20% equity stake in Quartix.
The remaining 80% will be held by the management team, which will continue to hold complete operational and strategic control of Quartix.
Quartix is one of the fastest-growing real-time vehicle tracking companies in the UK. Based in Newtown, Wales, with an office in Cambridge, it was established in 2001.
Through its partnership with Orange, Quartix provides companies in a variety of sectors the ability to track the movement of their vehicles through Quartix's website from any PC, without the need to install software.
Andy Walters, Managing Director of Quartix Ltd., said: "We're delighted to have formed this partnership with Bank of Scotland Corporate, and are confident about the prospects for future growth.
"We'll be aiming to deliver an even better service to our clients in order to consolidate our position as the supplier of choice to many companies using vehicle tracking."