Siemens, Accenture form smart grid joint venture

Siemens and Accenture have joined forces to protect smart grid solutions worldwide.

Siemens and Accenture have completed the formation of a joint venture aimed at developing and promoting smart grid solutions.

The tech giant and management consultancy group say the joint venture, dubbed Omnetric Group, will pull together Siemens' smart grid products and Accenture's technology consulting and service management. According to the firms, this 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."

In other words, the companies hope to become the middle man that integrates operation technologies -- including energy distribution management and grid operations -- with IT systems that work with services including meter management, making energy management more efficient and allowing for utilities to support technology including smart meters.

Headquartered in Munich, Germany, former managing director of Accenture Smart Grid Services in Europe, Africa and Latin America Maikel van Verseveld will act as CEO. The joint venture's chief operating officer position will be taken by Martin Runge, leader of the Siemens Smart Grid Center of Competence for Central and Eastern Europe.

Read on: Business Wire

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