TCS MHP acquisition: India’s largest IT services provider, Tata Consultancy Services (TCS), signed a five-year deal with Porsche AG valued at €1.25 billion ($1.45 billion) and acquired the German automaker’s IT arm, MHP, for €320 million ($373.4 million) in an all-cash transaction. The two deals are independent of each other.
The scale of opportunity is the primary motivation, TCS chief executive K Krithivasan told ET.
