TCS to acquire Porsche IT unit MHP for €320 million
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.
