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Accenture And Siemens Form Joint Venture To Unlock Full Benefits Of Smart Grids To Improve Energy Efficiency, Grid Operations And Reliability

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.

About Siemens

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

About Accenture

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.



Copyright Business Wire 2010
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