Accenture has picked up Cimation, an Industrial Internet of Things solutions provider for the resources industry. The aim of the union between the companies is to create an end-to-end technology services offering to the resources industry, allowing them to quickly acquire the cost and efficiency advantages made available by IIoT implementation.
The Internet of Things (IoT) has the potential to greatly improve the efficiency of industrial processes. One area in which rapid deployment is taking place is Industry 4.0, which, according to Strategy&, could add €550 billion to European revenue in the next five years. A recent McKinsey & Company report highlights that the industrial applications of IoT, could see an economic benefit of the technology of between $1,210 billion and $3,700 billion in 2025. The technology has also been cited as providing considerable potential within the oil & gas industry, where often remote areas and sites can be better monitored for maintenance requirements with the technology installed.
Cimation is a technology consulting provider that aims at closing the gap between the technology deployed in the energy sector and those found in other industries. The company is known for its work with Industrial Internet of Things (IIoT). The US-based company provides expertise for challenges faced by the oil & gas industry, related to end-to-end technology solutions that combine Automation, Industrial IT, Cyber Security, and Enterprise Data Solutions. The firm that was founded in 2009 employs around 200 people that serve more than 150 large clients from its 7 offices in the US, Canada and the UK.
The acquisition of Cimation by Accenture will allow the joint expertise of the companies, within the arena of the IIoT, to be leveraged for oil & gas clients. The aim of the acquisition is to create an end-to-end service offering that is able to transform industrial asset operations, as well as provide maintenance solutions for oil & gas, pipeline, chemicals, metals and mining companies.
According to Peggy Kostial, Senior Managing Director for Accenture’s North America Resources operating group, a number of companies are starting to realise the opportunities and value contained in IT-OT (operational technology) convergence to lower costs, increase productivity and improve reliability and safety. The combination of Accenture and Cimation will, according to Kostial, “expand our digital, management consulting and technology consulting capabilities to help clients achieve their goals of managing their assets more effectively and with greater security. Further, Cimation will bring a complementary client base and an excellent cultural fit with Accenture that includes a deep shared commitment to serving our clients across their industrial value chains.”
Jonathan Klein, CEO of Cimation adds: “Together, we will apply our deep knowledge of industrial processes and our exceptional OT skills worldwide to improve our clients’ operations thanks to Accenture’s global delivery capabilities and extensive client base. This is a tremendous opportunity for our entire team.”