KPMG announced the acquisition of AI development platform PrivateBlok, bringing its employees and founders into the firm to enhance its artificial intelligence capabilities. The specific terms of the deal have not been disclosed.
In a statement, PrivateBlok CEO Sachin Manchanda expressed enthusiasm about the partnership, stating, “We’re thrilled to join KPMG to help pair KPMG’s industry expertise with practical AI agents to solve real client problems — finance, change, diligence — right now.”
PrivateBlok, recognized for its development of configurable multi-agent systems, integrates public and proprietary data into a secure knowledge base, featuring AI-powered copilot functionalities aimed at corporate clients. The acquisition is seen as a strategic move for KPMG, allowing the firm to expand its offering of multi-model agent layer capabilities to clients. The PrivateBlok team is expected to support KPMG’s ongoing initiatives in building multi-agent systems that seamlessly integrate into employees’ workflows.
“The addition of the PrivateBlok team means that KPMG will be able to build AI-first products that deliver greater value to our clients — and support them for the long haul,” said Patrick Ryan, national managing partner for advisory strategy and markets at KPMG. “This is about speed and impact: world-class multi-agent expertise inside KPMG so clients see better outcomes, sooner.”
Ryan later clarified in an email to Accounting Today that the focus of the acquisition was more on acquiring talent than the technology itself, as KPMG already possesses a well-established AI infrastructure, featuring platforms such as KPMG Workbench and the AI-native Clara audit platform.
“We acquired the deep expertise of the architects and innovators who built PrivateBlok’s system,” Ryan explained. “Their role is to apply their specialized knowledge in multi-agent and AI-native development directly to KPMG’s existing ecosystem — helping us build new, differentiated AI-first products faster and scale multi-agent capabilities across the firm.”
Rather than focusing on isolated projects, the PrivateBlok team will collaborate across KPMG’s various AI initiatives, designing multi-agent architectures that contribute to the development of production-ready assets seamlessly integrated into client workflows. This addition represents a structural expansion within KPMG’s Advisory AI Products organization, with an emphasis on “industrializing” the firm’s AI capabilities by creating a reusable agent layer for embedding intelligence at scale.
Ryan described the move not as a shift in direction, but rather as a way to enhance a crucial element of KPMG’s innovation strategy, specifically “aggressively defining the market for AI-native products and services.” He noted, “As the market shifts toward buying and operationalizing AI systems, we are moving quickly to build an ecosystem of prebuilt vertical AI products, managed services, and enterprise-grade governance. This team adds critical velocity to that mission — helping us translate innovation into production-ready assets that scale across industries, reinforcing our shift toward more flexible, subscription-based commercial models.”
The acquisition is seen as a significant step toward strengthening KPMG’s position in the rapidly evolving AI market. The firm aims to leverage the combined expertise of both teams to develop innovative AI solutions that meet the increasing demands of clients across various industries.
Novistra Capital acted as exclusive financial advisors to PrivateBlok throughout the acquisition process.
As businesses increasingly integrate AI into their operations, KPMG’s latest move underscores a broader trend in the consulting industry toward enhancing technological capabilities to provide better client outcomes. The emphasis on multi-agent systems and AI-first products positions KPMG to be agile in responding to client needs in a competitive landscape.
For more information, visit KPMG’s official website and PrivateBlok.
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