94
/
2
Min Read
Tata Consultancy Services (TCS) will acquire MHP Management, the consulting and technology subsidiary of German sports car maker Porsche, for USD 373 million.
The acquisition is part of a five-year strategic partnership between TCS and Porsche valued at USD 1.4 billion. The partnership will focus on artificial intelligence-led transformation across Porsche’s engineering, manufacturing, operations, customer experience and enterprise functions.
TCS said its Netherlands subsidiary, Tata Consultancy Services Netherlands, has approved the acquisition of MHP’s equity shares from Porsche and signed a share purchase agreement.
The transaction is subject to regulatory approvals and other conditions and is expected to close within three to four months.
MHP provides consulting and technology services across business consulting, digital transformation, AI, SAP transformation, manufacturing digitalisation, connected mobility and software-defined mobility. It will retain its brand and continue operating as an independent consultancy.
The partnership is also expected to support TCS’s expansion of its automotive technology and consulting services among customers in Europe.
TCS CEO K Krithivasan said, “As AI, software and data redefine the automotive industry, this partnership brings together TCS’ capabilities in AI, engineering, technology and business transformation with MHP’s strong automotive consulting expertise.”
This article was originally
published by the 
