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[October 21, 2013]
Accenture, Siemens create JV in smart grid field [Global Data Point]
(Global Data Point Via Acquire Media NewsEdge) Accenture and Siemens have signed an agreement to create a joint venture in the smart grid field. Named 'Omnetric Group', the new company will provide the energy industry with services focused on data management and systems integration. These services 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.
Omnetric Group will bring together Siemens' products and services, and Accenture's management and technology consulting, systems integration and managed-services capabilities. The joint venture aims to enable utilities to 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.
Omnetric will start operations pending regulatory approval and other customary closing conditions. The company will be headquartered in Munich, operating initially in Europe and the US. Omnetric plans to employ approximately 100 people in its first year, with further global expansion planned in the future.
Financial details related to the agreement have not been disclosed.
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