EY acquires Nuvalence, expanding digital engineering and GenAI capabilities

TORONTO, April 29, 2024 /CNW/ - Traditional territory of the Mississaugas of the Credit, the Anishnabeg, the Chippewa, the Haudenosaunee and the Wendat peoples ? Nuvalence, a technology consultancy firm, has joined EY to accelerate the delivery of platform engineering, product development and generative AI (GenAI) platform-enabled services to organizations across industries and sectors.

Nuvalence brings EY a seasoned team of over 140 engineers, product managers and architects from across Canada, the US and Colombia who will boost EY teams' ability to help clients reinvent their industries with value-driven, AI-enabled platforms. 

"AI transformation is at the top of the agenda for many organizations that are looking to future-proof their business models," shares Dave McQueen, Consulting Managing Partner at EY Canada. "We're excited to join forces with Nuvalence to further the breadth and depth of EY's AI-enabled risk management and transformation capabilities to help clients successfully prepare for an AI-empowered future with state-of-the-art platforms and products at the centre."

Together, EY and Nuvalence teams will help clients navigate their unique transformation journeys by unlocking the possibilities of GenAI to augment and reimagine their core business functions, while venturing into new value creation models.

"Generative AI and data analytics are necessary to successfully drive all things digital," shares Biren Agnihotri, Digital Engineering and AI & Data Leader at EY Canada. "We're looking forward to working collaboratively with Nuvalence teams to accelerate our growth and provide our clients with the platforms they need to be more agile, innovative and better equipped to respond to disruptive change."

In one example of how the company helps clients create value through AI, Nuvalence built an AI-embedded platform that enabled a large auto industry manufacturer to centralize its digital fleet management. 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. 

"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," said Rakesh Malhotra, Co-Founder and Managing Partner of Nuvalence.

"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, and thankful that we not only get to continue our mission, but broadly scale it."

EY exists to build a better working world, helping create long-term value for clients, people and society and build trust in the capital markets. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate. Working across assurance, consulting, law, strategy, tax and transactions, EY teams ask better questions to find new answers for the complex issues facing our world today.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws.

For more information about our organization, please visit ey.com. Follow us on Twitter @EYCanada.

This news release has been issued by Ernst & Young LLP.

SOURCE EY (Ernst & Young)