CLA acquires UK AI firm Engine B
LONDON, UNITED KINGDOM — Accounting firm CliftonLarsonAllen LLP (CLA) has acquired Engine B, a UK-based technology company specializing in artificial intelligence (AI)-driven generative solutions for the professional services sector.
This strategic move marks CLA’s first global acquisition and underscores its commitment to leveraging advanced technology to elevate client services.
AI to empower CLA professionals to focus on clients
The deal, finalized on May 1, further boosts CLA’s $500 million investment in digital technology and AI. Through Engine B’s capabilities, CLA expects to enhance its business offerings and expand its client base.
Engine B’s products and solutions to CLA will enable the firm to use data and drive additional value to its clients. As part of the deal, Engine B’s team of professionals and technology will be integrated into CLA.
CLA offers wealth advisory, outsourcing, audit, tax, and consulting services. It employs over 9,000 professionals in 130 locations. Its outsourcing solutions include accounting and advisory, value and risk services, M&A advisory, and talent acquisition.
Integration of Engine B’s team and technology
Engine B, founded in 2019, leverages Generative AI to enhance the service offerings of audit and accounting firms. In addition to streamlining processes, Engine B’s AI tools also allow firms to make high-value decisions based on rich data.
Jen Leary, CEO of CLA, welcomed the deal, noting that Engine B’s AI technology will empower CLA’s employees to spend more time with their clients directly.“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,” Leary said.
James Watson, CLA Board chair, echoed this view, noting that the deal will allow the company to improve client engagement and open new business opportunities.
“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,” Shamus Rae, founding partner of Engine B.
The acquisition has been welcomed by industry bodies, with the ICAEW (Institute of Chartered Accountants in England and Wales) expressing its support for the move.
