Accenture expands smart grid operation and risk management services through new acquisition
Accenture has agreed to acquire Structure, a consulting, system integration and customised solutions and services provider to energy and utilities clients. The transaction will expand and Accenture’s experience and capabilities in smart grid solutions, especially grid operations, as well as energy commodity trading and risk management (CTRM).
Terms of the transaction were not disclosed, and the acquisition is subject to regulatory review and other customary closing conditions.
“Bringing together two very similar cultures with deep skills in the utilities and energy industries reinforces our ability to help our clients solve some of the most complex and critical challenges that lie at the heart of the digital transformation,” said Omar Abbosh, senior managing director, Accenture Resources operating group. “Structure’s capabilities in grid operations and power systems engineering, combined with Accenture’s global strengths in information technology (IT), will provide our clients with comprehensive end-to-end solutions and services to support the integration of operational technologies with IT systems, forging a path toward a smarter, more digital grid.
“This includes the deployment of advanced distribution management systems and automation solutions, as well as improved outage management and grid analytics. We also plan to combine Structure’s market operations and commodities trading services with Accenture’s capabilities in digital asset management to help our clients optimise their commercial positions.”
Structure has been consistently recognized in its field since 2010 with more than a dozen industry awards for growth, advisory services and solutions that make utilities and energy clients’ transformational strategies achievable.
“Joining forces with Accenture will provide our clients and our employees with a unique opportunity to extend our capabilities to offer critical business solutions on a global scale,” said Lelon Winstead, structure managing partner. “We believe Structure’s end-to-end expertise in smart grid, commodities trading and market operations aligns well with Accenture’s grid operations and energy commodities trading businesses. Accenture is a strong strategic fit with our offerings, presence and capabilities in a very complementary manner. We share very similar company cultures focused on delivery excellence, strong client relations and deep industry experience and specialisation.”
Founded in 1998, Structure is based in Houston. Its more than 190 employees will operate within Accenture’s Resources operating group.