Accenture and Siemens Form Joint Venture to Unlock Full Benefits of Smart Grids to Improve Energy Ef
Accenture and Siemens Form Joint Venture to Unlock Full Benefits of Smart Grids to Improve Energy Efficiency, Grid Operations and Reliability
Newly formed Omnetric Group will bring together the best in information technology and operational technology capabilities from both companies
AMSTERDAM & NEW YORK--(BUSINESS WIRE)-- Accenture (NYS: ACN) and Siemens have entered into an agreement to form a joint venture in the smart grid field that will work with utilities to improve energy efficiency, grid operations and reliability.
The new company, named Omnetric Group, will provide the energy industry with advanced solutions and services focused on data management and systems integration. These solutions will integrate operational technologies - such as distribution management and real-time grid operations - with IT systems supporting smart metering, energy consumption and work and asset management.
"Combining the strengths of Siemens and Accenture will enable Omnetric Group to deliver the highest level of expertise and execution to a rapidly evolving global utility market," said Jan Mrosik, CEO of Siemens' Smart Grid Division.
Omnetric Group will bring together Siemens' products and solutions; Accenture's management and technology consulting, systems integration and managed-services capabilities. The companies' IT and operational technology solutions and extensive experience in the energy industry will help address a range of challenges faced by energy utilities around the world.
"With an integrated approach incorporating operational and information technologies, utilities can improve overall grid reliability and bridge the gap to real-time grid control by integrating and implementing new and previously isolated grid applications. This includes demand response, to actively manage consumption; virtual power plants, to enable new profitable business models; and meter data management, to enable usage transparency for consumers," Mrosik said. "We believe that no company will be able to help manage this integration better than Omnetric Group, which will draw from the very best industry know-how and IT experience."
Jack Azagury, global managing director for Accenture Smart Grid Services, said, "Utilities are seeking ways to increase capital effectiveness and reduce their costs of operations while integrating new technologies such as distributed renewable generation and electric vehicles into their electricity networks. Doing so requires an enterprise view of systems and data through the integration of traditional IT solutions with the operational solutions required to manage the grid. Omnetric Group will be uniquely positioned to help utilities realize the benefits of this IT and OT 'convergence,' which is a critical step toward managing an increasingly complex and data-driven utility."
Omnetric Group will begin operations pending regulatory approval and other customary closing conditions. The company will be headquartered in Munich, operating initially in Europe and the United States. Omnetric Group plans to employ approximately 100 people in its first year, with further global expansion planned in the future.
Financial details of the agreement are not being disclosed.
The Siemens Infrastructure & Cities Sector (Munich, Germany), with approximately 90,000 employees, focuses on sustainable technologies for metropolitan areas and their infrastructures. Its offering includes products, systems and solutions for intelligent traffic management, rail-bound transportation, smart grids, power distribution, energy efficient buildings, and safety and security. The Sector comprises the divisions Building Technologies, Low and Medium Voltage, Mobility and Logistics, Rail Systems and Smart Grid. For more information, visit http://www.siemens.com/infrastructure-cities
Accenture is a global management consulting, technology services and outsourcing company, with approximately 275,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world's most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$28.6 billion for the fiscal year ended Aug. 31, 2013. Its home page is www.accenture.com.
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