Tata Consultancy Services (TCS) announced a five-year strategic deal worth €1.25 billion with Porsche AG and MHP, marking a significant expansion of its partnership with the German luxury carmaker.The deal follows TCS' acquisition of MHP Management- und IT-Beratung GmbH (MHP), and will take effect from the closing date of the acquisition, TCS said in a regulatory filing on Monday.Under the agreement, Porsche will partner with MHP and TCS to industrialise artificial intelligence across its engineering, manufacturing, operations, customer experience and enterprise transformation initiatives.Also read: Tata Motors to hike car prices by Rs 25,000; joins Maruti, Hyundai as costs hurt pocketsThe partnership will also focus on delivering next-generation automotive technology services and software-defined mobility platforms, as Porsche looks to deepen the use of digital technologies and AI across its business.The five-year engagement is aimed at anchoring a long-term technology partnership between Porsche, MHP and TCS, the company said.In a separate filing, Tata's IT firm announced the proposed acquisition of 100% of MHP from Porsche for an enterprise value of €320 million.
TCS secures €1.25 billion five-year strategic deal with Porsche
Tata Consultancy Services has secured a significant five-year deal worth €1.25 billion. This strategic agreement follows TCS' acquisition of MHP Management- und IT-Beratung GmbH. Porsche will partner with MHP and TCS to industrialize artificial intelligence across its operations. The partnership will also focus on delivering next-generation automotive technology services. This engagement anchors a long-term technology partnership between the three entities.
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