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[October 15, 2013]
Accenture, Siemens Report JV Named Omnetric Group
(Benzinga Lightning Feed Via Acquire Media NewsEdge) Accenture (NYSE: ACN) and Siemens (NYSE: SI) 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.
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