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Aegon acquires Novia development arm

Aegon has acquired Novia Investment Services Limited, the arm of Novia which has provided platform development expertise for the provider’s Retirement Choices platform. 

The Aegon platform was developed by NISL and the acquisition means the ongoing support for platform development will now move in-house.

The move will see the 40 staff of NISL, led by Richard Denning, move to Aegon. The fee for the acquisition has not been disclosed.

Aegon took-over administration of the platform from Novia in May. 

Aegon chief operating officer Tommy Young says: “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 truly digital business.”

Novia chief executive Bill Vasilieff says: “The project between Aegon and Novia has been an unqualified success for both businesses and we would like to thank Richard and all the NISL staff for their commitment in ensuring this success.”

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