TCS to fully acquire Porsche's MHP in €1.25 billion partnership
TCS is planning to fully acquire MHP, Porsche's IT and management consulting company, as part of a €1.25 billion partnership over five years.
The deal means TCS will help Porsche boost its mobility tech with AI, and together they'll launch an AI Mobility Centre of Excellence to focus on deploying AI-driven solutions across manufacturing, engineering, operations, and customer experience.
MHP €742 million revenue, 4,500 employees
MHP pulled in €742 million last year and has about 4,500 employees across six countries. This move gives TCS a bigger presence in Europe's auto industry.
As TCS CEO & Managing Director K. Krithivasan put it, they're combining their tech skills with MHP's automotive know-how.
Porsche's CEO Dr. Michael Leiters said the transfer helps Porsche focus on building cars while letting TCS drive innovation behind the scenes.