TCS to fully acquire Porsche’s IT consulting arm MHP for €320 million

Mumbai: Tata Consultancy Services (TCS) is planning to fully acquire MHP Management- und IT-Beratung GmbH (MHP), Porsche AG’s Germany-based management and IT consulting subsidiary, for an enterprise value of €320 million, excluding customary post-closing adjustments for net debt and working capital.

The acquisition is part of a broader €1.25 billion, five-year strategic partnership between TCS and Porsche, under which TCS will provide artificial intelligence (AI) services across Porsche’s mobility value chain.

The transaction and partnership remain subject to regulatory approvals, with the acquisition to be completed through a TCS subsidiary.