GenAI Revolution: CLA Takes Lead with Engine B Acquisition

CLA (CliftonLarsonAllen LLP), the 8th largest accounting firm in the US market, purchased Engine B. This UK-based technology company specializes in developing generative AI solutions for the professional services industry.  It enables the professionals to provide in-depth insights and opportunities for the clients’ businesses. 

This strategic step is CLA’s first global Engine B acquisition, and it signifies CLA’s firm’s resolve to leverage new technologies to improve client service. This will enable CLA professionals to spend more time with clients, looking for new business opportunities and contributing new services that add value to them. With a blended use of generative AI and large language models, Engine B has developed cutting-edge technology that will revolutionize generative AI revolution and the way accountants work, giving clients the deeper business and financial insights they need.

 “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 is a business that was incepted in 2019 by Shamus Rae and Donne Burrows, long-standing professional services practitioners who saw a need for such services. Engine B rose to prominence straight through that from its innovative mechanisms of collecting and standardizing client data and now has AI tools in its pipeline. Besides Engine B, the agency has begun using products and solutions that are designed to mine data and create additional value for its customers. CLA will gladly merge the whole Engine B clan with its staff and know-how.“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 takeover of Engine B, completed on May 1, fast-tracked the US$500 million technology and artificial intelligence venture led by CLA. CLA envisions that by utilizing Engine B's power, we should expect to improve our existing activities with the current client base and the way we serve completely new client opportunities.