The deal will enhance Siemens services for global clients in the areas of energy and resource efficiency.
Siemens will now be equipped with Pace Global’s deep knowledge of energy markets, its experience with C-Suite decision support and its commercial solutions including energy and carbon management capabilities.
Siemens US Building Technologies Division president Andreas Schierenbeck said that the company has expanded its capabilities with the addition of energy consulting and procurement services.
"By combining both companies’ market-leading solutions, Siemens has formed an end-to-end energy consulting and project delivery capability that is unique in the market, and is a perfect complement to the realities of running today’s business operations," added Schierenbeck.
Pace Global will integrate within the Siemens Building Technologies division, but will continue to operate as a separate operating unit.
Pace Global provides energy services and manages more than $5bn in energy spend for 200 clients around the world.
It also oversees a risk portfolio valued at approximately $10bn, and supports the development, acquisition and financing of over $100bn of energy assets worldwide.
The Siemens Building Technologies Division is a service provider, system integrator and product vendor of safe and energy efficient buildings.
