In what is the top 10 accounting firm’s first deal outside the U.S., CliftonLarsonAllen (CLA) said Thursday that it has acquired London-based Engine B, a technology company that specializes in delivering generative AI solutions for the professional services industry.
“This strategic move—CLA’s first global acquisition—underscores the firm’s commitment to harnessing cutting-edge technology to enhance client service and enable CLA professionals to focus more on client engagement, pursuing new business opportunities, and delivering value-added services,” CLA said in a press release. “Harnessing the power of generative AI and large language models, Engine B’s cutting-edge technology is designed to transform the way accounting professionals work, allowing for deeper business and financial insights for clients.”
By using Engine B’s capabilities, CLA anticipates it will be able to enhance activities with its current client base while also innovating the way it serves new client opportunities, firm officials said. The acquisition also accelerates CLA’s $500 million investment in digital technology and AI, the firm added.
“CLA is investing in the future of our people, of our clients, and our profession,” CLA CEO Jen Leary said in a statement. “With the addition of Engine B, CLA is becoming a force for positively disrupting the profession, creating a path for our professionals to spend more time directly with clients, leaning into our promise to know and help them. Engine B’s generative AI-powered technology aligns closely with our vision of leveraging digital solutions to drive operational excellence and deliver greater value to our clients.”
Founded in 2019 by Shamus Rae and Donne Burrows, Engine B brings products and solutions to CLA that will enable the firm to harness data and drive additional value to its clients.
“Our U.K.-based team specializes in developing cutting-edge AI tools that automate complex processes, saving professionals valuable time and providing intelligent data insights. Our goal is to improve quality, reduce risk, and empower professionals to focus on what matters most,” Engine B says on its website.
The company’s entire team of professionals have joined CLA, according to the press release.
“This connection is the right step for Engine B and for CLA,” said Rae, founding partner of Engine B. “Our technology will seamlessly integrate into CLA’s existing systems and give us all a head-start in ingesting client information and extracting clear data sets to provide strategic client initiatives. For both firms, this is a strategic step toward growing revenue while further investing in our professionals.”
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