Munich: Accenture and Siemens have completed the formation of a joint venture company called OMNETRIC Group. The 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. The new company is based in Munich. Maikel van Verseveld, formerly managing director of Accenture Smart Grid Services in Europe, Africa and Latin America, is its chief executive officer.