CLA Expands AI Capabilities with Strategic Acquisition of UK-Based Technology Firm

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May 09, 2024, 06:00 ET

CLA acquires Engine B; will integrate into CLA solutions for greater client insights

LONDON, May 9, 2024 /PRNewswire/ -- CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States, today announced its acquisition of Engine B, a next-generation AI-driven, UK-based technology company that specializes in delivering generative AI solutions for the professional services industry, providing deeper insights and opportunities for their clients.

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. 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.

"CLA is investing in the future of our people, of our clients and our profession," said Jen Leary, CEO of CLA. "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."

Engine B was founded in 2019 by Shamus Rae and Donne Burrows, two long standing professional services executives who saw a need. Engine B quickly garnered recognition by revolutionizing how firms access quality, standardized client data and has most recently been developing leading edge AI tools. Engine B brings products and solutions to CLA that will enable the firm to harness data and drive additional value to its clients. CLA will welcome the entire Engine B team, integrating its professionals and technology.

"This connection is the right step for Engine B and for CLA," said Shamus 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."

"At CLA, we are early adopters, staying ahead of industry trends, always looking to enhance the services and solutions we provide to our clients," said James Watson, CLA Board Chair. "The automation capabilities that Engine B brings to the table will enable us to redirect valuable time toward client engagement while pursuing new business opportunities."

The acquisition of Engine B, finalized on May 1, further accelerates CLA's $500 million investment in digital technology and artificial intelligence. By harnessing Engine B's capabilities, CLA anticipates it will be able to enhance activities with its current client base, while also innovating the way we serve new client opportunities.

About CLA
CLA (CliftonLarsonAllen LLP) exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, outsourcing, audit, tax, and consulting services. With nearly 9,000 people, more than 130 locations, and a global vision, we promise to know you and help you. For more information, visit CLAconnect.com. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.

About Engine B
Engine B is a next-generation AI-driven, UK-based technology company that utilizes the latest in generative AI to develop cutting edge AI tools that automate lengthy, complex processes. These new technologies save professionals time in audit, accounting and beyond as well as improve quality and reduce risk. Their AI tools, enabled by standardized data, work alongside professionals, and allow them to spend more time making higher-value decisions, based on intelligent data insights, their expertise, and their professional training.

SOURCE CLA (CliftonLarsonAllen LLP)