Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Economic Times
The Economic Times

TCS to acquire Porsche IT unit MHP for €320 million

Porsche MHP TCS Porsche AG Tata Consultancy Services United States Artificial Intelligence

Tata Consultancy Services (TCS) is set to acquire Porsche AG's management and IT consulting subsidiary MHP Management- und IT-Beratung GmbH for an enterprise value of €320 million.

The acquisition, approved by the board of TCS Netherlands, a wholly owned subsidiary of TCS, involves the purchase of 100% equity in MHP, which is a subsidiary of Porsche. The transaction is subject to regulatory approvals and other conditions precedent and is expected to be completed within three to four months.

Also read: TCS secures €1.25 billion five-year strategic deal with Porsche

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Steven Tyler Sexual Assault Lawsuit Rocked by Second Judge Exit Less Than Two Weeks Before Trial
Steven Tyler's lawsuit with Julia Misley faces renewed uncertainty after Judge Patricia A. Young recused herself, leaving a remaining claim and the planned trial date unresolved
International Business Times UK
International Business Times UK
Only Two in Three U.S. Teens Ate Any Fruit on a Given Day as Intake Drops with Age
A new CDC report finds 66% of U.S. teens ate any fruit on a given day, compared with 92% of preschoolers. Here is what parents should know.
Medical Daily
Medical Daily
Children’s book recalled from Aldi and Tk Maxx due to risk of choking babies
The Groovy Baby ‘I Spy a Fly’ failed to meet toy safety regulations, authorities said
The Independent UK
The Independent UK
Brad Pitt let his neighbour live rent-free until 105; the unusual story behind his former LA mansion
In a heartwarming gesture, Brad Pitt purchased a home from an elderly neighbor, allowing him to live there rent-free until he reached the remarkable age of 105. Over the years, Pitt amassed several properties to form his Los Feliz compound, displaying a keen interest in architecture. Recently, he sold his…
The Times of India
The Times of India
$3 Bowl Sells For Millions: rare Song Ding ware; Sotheby’s buyer pays $2.225m
In 2007, a family in New York stumbled upon a plain white bowl priced at just three dollars. Little did they know that experts would later classify it as a rare Chinese Ding ware from the Northern Song dynasty. Sotheby's placed an impressive valuation on it, estimating between two hundred…
The Times of India
The Times of India
'Appetizing' stores are the quieter, less famous sibling of the Jewish deli
In traditional Jewish American food culture, there was the deli and also its less famous sibling, the appetizing store
The Independent UK
The Independent UK
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play