Firm Management
EY Adds New York-Based Technology Consulting Firm Nuvalence
The transaction expands EY's digital engineering and generative AI services to organizations across industries and sectors.
May. 02, 2024
Big Four accounting firm Ernst & Young has acquired Nuvalence, a Troy, NY-based technology consulting firm that specializes in innovative artificial intelligence platform and product development.
EY said in a news release that the acquisition will accelerate the delivery of platform engineering, product development, and generative AI platform-enabled services to organizations across industries and sectors.
Nuvalence brings to EY an experienced team of more than 140 engineers, product managers, and architects from across the U.S., Canada, and Colombia.
“We are thrilled to welcome Nuvalence,” Raj Sharma, vice chair of EY Americas Consulting, said in a statement. “EY US has tremendous strength in providing robust solutions for the AI-enabled future with technology at the center. With the addition of this team, we have increased our engineering capabilities to provide clients with state-of-the-art AI platforms and products that will bring their AI vision to reality.”
EY and Nuvalence teams will collaborate to help clients use GenAI to augment and reimagine their core business functions while venturing into new models powered by AI.
“Nuvalence has always applied our deep technical expertise to some of the hardest problems our clients face as they transform themselves into platform and AI-centric organizations. We are incredibly excited to continue and scale this mission as part of EY US,” said Rakesh Malhotra, co-founder and managing partner of Nuvalence.
In one example of how the company is helping clients create value through AI, Nuvalence built an AI-embedded platform that enabled a large auto industry manufacturer to centralize its digital fleet management, according to EY. The platform incorporates all aspects of the manufacturer’s relationship with their clients, from leasing and financing to maintenance and customer support. The platform’s extensibility allows other divisions of the manufacturer to easily create new experiences that seamlessly connect, ensuring rapid adaptation to client needs and market demands.
“From the onset, we’ve prided ourselves on building AI platforms that deliver tangible real-world impact for our clients and their customers,” said Sinclair Schuller, co-founder and managing partner of Nuvalence. “We’re delighted to be joining EY US and thankful that we not only get to continue our mission, but broadly scale it.”