Siemens and Accenture Form Smart Grid Joint Venture

Siemens and Accenture formed Omnetric Group, a joint venture in the smart grid field to develop solutions and services that allow utilities to improve efficiency and achieve greater supply security. Its business operations will focus initially on Europe and the U.S., with further global expansion planned in the future. Omnetric Group will focus on solutions and services for system integration and management of the growing volume of data created as part of power grid operation. These offerings will enable utilities to integrate operational technologies (OT), such as real-time grid management, with information technologies (IT) like smart metering. The company will be headquartered in Munich and will employ approximately 100 people in its first year. Siemens and Accenture have agreed not to disclose financial details of the agreement.