Alan Vallance, ICAEW Chief Executive, said:
“ICAEW warmly welcomes the acquisition of Engine B by US accounting and professional services firm CLA (CliftonLarsonAllen LLP). It is a fitting reward for the hard work of the management team, which in a short period has turned a technology start-up into a successful business.
“ICAEW identified the potential of Engine B at an early stage, and we invested in the company to give it the time and space to develop a platform which could accelerate the adoption of data integration and artificial intelligence across the accountancy profession. We are delighted that our investment has paid off: Engine B’s customers now include accountancy firms of all sizes, and with the backing of CLA, we are confident it has a great future.
“ICAEW has therefore decided that this is the right time for us to divest our stake in Engine B. We look forward to maintaining a strong working relationship with CLA and exploring further areas for collaboration which address the evolving needs of the profession.”
ENDS
Notes to editors:
Contact: ICAEW media office, 07557 161315 or ruth.pott-negrine@icaew.com