Ascend acquires offshore accounting services provider

JULY 31, 2023 // Alexandria, VA

Ascend today revealed that is has acquired Sentient Solutions for Accounting (“Sentient”), an offshore accounting services and technology solutions provider with offices in India and Mexico. The combination will establish Sentient as a captive offshore resource for the high-growth partner firms that have joined Ascend’s platform. Ascend, backed by people-focused private equity firm Alpine Investors, makes strategic investments in the non-attest business of entrepreneurial middle market firms nationwide and provides resources to help them grow as independent partner firms.

Sentient, a global provider serving both Top 100 and regional firms, has over 100 highly trained employees, primarily in Hyderabad, India, who provide outsourced services in tax, assurance, and client accounting. It also has a technology arm that develops and markets AI tools that enable CPAs to work more efficiently, such as AI-powered tools that proofread assurance reports and automate employee benefit audits.

The company will continue serving and growing with its other accounting firm clients.

“From the beginning, we have promised that we will provide the resources of a large CPA firm to the entrepreneurial, independent local firm,” said Ascend Founder & CEO David Wurtzbacher. “This acquisition squarely delivers on that promise. Sentient’s current customer base is extremely happy, which points to the company’s excellent leadership, thoughtful onboarding processes and quality service.”

“I am very impressed by the vision and entrepreneurial, ‘can-do’ attitude of the Ascend team,” said Venkat Sharma, Sentient’s founder & CEO, who is joining Ascend’s executive leadership team. “It is clear to me that Ascend truly cares about their people and strives to make each partner firm a better, more rewarding place to work. This investment from Ascend fuels Sentient to further drive success for accounting firms with the same focus on quality, flexibility, and technology we’ve had from the beginning.”

“The reality is that smaller CPA firms cannot do offshoring themselves, even though they would love to have the extra capacity. Building an offshore team is extremely difficult, especially when CPAs are already buried in client service. Furthermore, smaller firms don’t have the critical mass to be a top client of an outsourcing firm, so they miss out on dedicated service teams, rapid responses to feedback and smooth integrations. Bringing Sentient onto the Ascend platform will give our partner firms the opportunity to scale up and balance out the work they are assigning to their US-based teams,” Wurtzbacher said.

Ascend’s investment in Sentient is part of the company’s plan to build out a suite of resources its partner firms can plug into as part of the Ascend Growth Model. The company is concurrently making investments in leadership development, talent acquisition, technology and AI, advanced billing methods, and client accounting services.

Ascend previously invested in the non-attest businesses of three regional U.S. CPA firms, including Opsahl Dawson of Vancouver, WA (January), ATKG of San Antonio, TX (May), and LMC of New York City (June).  All three firms have been recognized as top businesses in their markets, including Best Places to Work.