AI leader Engine B has been acquired by US firm CLA
Arrowpoint Advisory’s TMT team has advised Engine B, a next-generation AI-driven, UK-based technology company that specialises in delivering generative AI solutions, on its sale to CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States.
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 revolutionising how firms access quality, standardised client data and has most recently been developing leading edge AI tools. 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.
“This connection is the right step for Engine B and for CLA,” said Shamus Rae, Founding Partner of Engine B. For both firms, this is a strategic step toward growing revenue while further investing in our professionals.”
Shamus continued: “The Arrowpoint Advisory team showed a unique ability to articulate the value that AI can unlock within a professional services organisation and across its client base. They were tireless and tenacious in supporting us through this transaction, and we are very grateful to them for helping us find in CLA such an aligned and supportive new owner.”
Daniel Domberger, Managing Director at Arrowpoint Advisory, who led the transaction, commented: “Shamus and Donne have rapidly pushed Engine B to the forefront of the industry, where AI is delivering clients real and tangible benefit, rather than just generating press releases. Having recently advised AI services leader Rewire (formerly MICompany) on its buy-out backed by MML, and now advising on the sale of product leader Engine B, the Arrowpoint Advisory TMT team is by far the most experienced AI transactor in the mid-market, from product to services and everything in-between.”
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