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The Investment bank Largillière Finance advised the shareholders of artificial intelligence specialist Advestis on its sale to Mazars.

Founded in 2011 by Christophe Geissler, Advestis is a contract research organization (CRO) in the artificial intelligence sector. Based in Paris, the company offers customized data science research and development services to major public and private clients. With a team of 12 highly qualified employees, the company has developed 19 technology bricks, each representing a set of algorithms and methods that can be customized and adapted to different use cases.

The Advestis value proposition consists in its ability to accelerate the Technology Readiness Level (TRL)[1] of its customers' products and innovations, particularly in three sectors where AI is not yet widely deployed: financial institutions, energy networks and predictive maintenance.

Mazars is one of the world's leading audit and advisory firms, with 47,000 employees in 95 countries.

Mazars France acquires the entire share capital of Advestis; Christophe Geissler, Founder and R&D Director, and David Grimbert, Managing Director, continue to develop the business by joining the Mazars teams.

The merger is a win-win situation for both parties.

This move will enable Mazars to consolidate the development of its R&D. Advestis' algorithms will complement the other key segments of Mazars' data value chain in France and worldwide.

Christophe Geissler, Founder and R&D Director of Advestis, comments: "David Grimbert and I are proud and honored to support Mazars in its AI development. We are convinced that Advestis can go even further thanks to the support and network of the group we are joining, and we thank Largillière Finance for highlighting the right partner."

Thomas Bureau, Managing Director at Largillière Finance adds: "Advestis has a track record and know-how in B2B data science going back 12 years. To complete this transaction in a highly specialized, high-potential sector, we were driven by one observation: today, the B2B sector has not yet integrated AI in any significant way. On the strength of this conviction, we were able to identify relevant buyers and are delighted to have supported the execution of this transaction under the best possible conditions for all parties."

[1] The Technology Readiness Level (TRL) scale is a measurement system developed by NASA to evaluate the maturity level of a technology between 1 and 9.

Parties to the transaction: