Tata Consultancy Services (TCS) on Monday said it will acquire a 100 per cent stake in MHP Management- und IT-Beratung GmbH (MHP), a subsidiary of Porsche AG, for an enterprise value of 320 million euros (approximately Rs 3,574 crore).
The acquisition is part of a broader five-year strategic partnership valued at 1.25 billion euros between TCS and the German sports car maker.
“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.
Together, we will industrialise AI at scale for Porsche, accelerating innovation across the value chain to deliver intelligent, software-defined mobility experiences of the future,” TCS CEO and MD K Krithivasan said. “By combining Porsche’s automotive expertise with TCS’ digital technology and AI capabilities, we will further strengthen our innovative power, increase efficiency, and boost our competitiveness in an increasingly data and software-driven world of mobility,” Porsche AG CEO Michael Leiters said.
