Edinburgh-based Aegon UK has unveiled the £140million acquisition of Cofunds to create the UK's biggest investment platform.  

The deal will see Aegon's platform assets soar to £98bn, dwarfing its local rival Standard Life which has reached £39bn. 

Cofunds will bring 750,000 customers, while Aegon has today unveiled a rise of 40,000 to 326,000 customers.  

Chief executive Adrian Grace said it had been a momentous year for Aegon in transforming its business, and it would now work to keep Cofunds users happy after a period of uncertainty over the business's future.