M&A M&A
TCS to acquire German carmaker Porsche’s IT arm MHP for $373-M
Source The Times of India (opens in a new tab)Press Release (opens in a new tab)
Publicly listed, Mumbai-based Tata Consultancy Services (TCS), via TCS Netherlands, is to acquire MHP Management , the consulting and technology subsidiary of the German car maker Porsche, for USD 373-M. Simultaneously, the two firms have entered into a five-year strategic partnership valued at USD 1.4-B.MHP is an automotive and industrial consulting firm that provides services in business consulting, digital transformation, artificial intelligence, SAP transformation, manufacturing digitalisation, and software-defined mobility. The firm will maintain its brand identity and continue to operate as an independent consultancy.The Porsche engagement is expected to serve as an anchor for the growth of TCS’s AI transformation strategy in the European automotive and industrial sectors.