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TheStreet Open House

Accenture And Siemens Complete Formation Of OMNETRIC Group – A Joint Venture Focused On Smart Grid Solutions

Accenture (NYSE:ACN) and Siemens have completed the formation of a joint venture company called OMNETRIC Group.

OMNETRIC Group will bring together Siemens’ smart grid products and solutions; Accenture’s management and technology consulting, systems integration and managed-services capabilities. It will provide utility companies with advanced smart grid solutions and services focused on data management and systems integration to improve energy efficiency, grid operations and reliability.

These solutions will integrate operational technologies – such as distribution management and real-time grid operations – with IT systems, such as meter data management to support smart metering, demand response to manage energy consumption and virtual power plants to enable load management. This will provide utilities with an integrated view of their systems and data, and support advanced analysis and decision making.

OMNETRIC Group is headquartered in Munich.

Accenture and Siemens have named Maikel van Verseveld, formerly managing director of Accenture Smart Grid Services in Europe, Africa and Latin America, as the chief executive officer of OMNETRIC Group. Martin Runge, who leads the Siemens Smart Grid Center of Competence for Central and Eastern Europe, has been appointed as chief operating officer. Carsten Speckmann, formerly head of Supply Chain Management for Siemens Smart Grid has been appointed chief financial officer of OMNETRIC Group.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with approximately 289,000 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.

About Siemens

The Siemens Smart Grid Division (Nuremberg, Germany) offers power providers, network operators, industrial enterprises and cities an end-to-end portfolio with products and solutions to develop intelligent energy networks. Smart Grids enable a bidirectional flow of energy and information. They are required for the integration of more renewable energy sources in the network. In addition, power providers can run their plants more efficiently with data gained from Smart Grids. Software solutions that analyze data from Smart Grids will continuously gain importance. Thereby, the division uses in-house developments in addition to systems from software partners. For further information please see http://www.siemens.com/smartgrid.

About OMNETRIC Group

OMNETRIC Group is dedicated to the global delivery of integrated information technology and operational technology solutions and services, helping utility companies to achieve greater grid reliability and efficiency. OMNETRIC Group is a joint venture between Siemens AG and Accenture. Combining Siemens’ leading energy technology product portfolio with Accenture’s systems integration, consulting and managed services capabilities, OMNETRIC Group can support clients with innovative solutions wherever they may be on their path to a smarter grid. For more information, visit www.omnetricgroup.com.



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