Aegon UK is to purchase Novia Investment Services from Novia Financial.
The acquisition, which is subject to regulatory approval, will mean the development work on Aegon’s platform, Aegon Retirement Choices, will move in-house.
Novia Investment Services was set up as a separate organisation to build and administer Aegon’s platform in 2011.
Tommy Young, chief operating officer at Aegon UK, said: “We’ve been delighted with the success of the Aegon/Novia project.
“The pace at which we have built the platform and caught up with the rest of the market is truly remarkable and that is down to the successful working relationship between these two organisations and our technology supplier.
“Moving the development work in-house is a very natural step in our progression, allowing us to take complete ownership of the entire platform as we continue to build a digital business.”