TCS, Porsche secure €1.25 billion five-year AI partnership alongside MHP acquisition

TCS to buy Porsche consulting arm MHP for $373 mn, secures $1.4 bn 5-yr deal

The acquisition will strengthen TCS’ presence in Germany, Romania, the UK, the US, India, and Mexico and among European automotive and industrial customers

Tata Consultancy Services is buying MHP, the management and IT consultancy Porsche has owned for years, for €320m, and signing a five-year engagement with the carmaker worth €1.25bn on top of it. The two halves are what make the deal worth reading, because Porsche is simultaneously disposing of an asset and committing to buy back […] This story continues at The Next Web

The acquisition is part of a broader €1.25 billion, five-year strategic partnership between TCS and Porsche.

Mumbai: Tata Consultancy Services (TCS) and MHP Management- und IT-Beratung GmbH have secured a five-year strategic agreement from automaker Porsche AG valued at €1.25 billion.The agreement follows the acquisition of MHP and will become effective from the closing date of that transaction, TCS said in a regulatory filing.AI Across Porsche OperationsThe partnership is designed to industrialise artificial intelligence across Porsche’s engineering, manufacturing and operational functions. It will also cover customer experience and the automaker’s enterprise transformation programme.Under the agreement, TCS and MHP will deliver next-generation automotive technology services and software-defined mobility platforms. The companies aim to establish a long-term technology partnership supporting Porsche’s digital transformation priorities.The deal places artificial intelligence at the centre of Porsche’s technology strategy. It is expected to support the adoption of AI across business functions instead of limiting its use to projects or departments.Five-Year Strategic EngagementThe five-year duration provides a long execution window for the technology companies to develop, deploy and scale digital services across Porsche’s organisation. Tata Group Stocks Fall After N Chandrasekaran Resigns As Tata Sons Chairman; TCS Leads DeclineTCS did not disclose the division of work or revenue between itself and MHP. The filing also did not provide annual contract values, project milestones or the expected financial contribution from the engagement.The agreement’s implementation remains linked to the closing of the MHP acquisition. TCS did not specify the completion date for that transaction in this disclosure.Stock Exchanges InformedTCS informed the BSE and the National Stock Exchange about the strategic agreement under Regulation 30 of the Securities and Exchange Board of India’s listing regulations. 13 TCS Employees Rescued After Losing Way During Irshalgad-Prabalgad Trek In PanvelThe company trades under the symbol TCS on the NSE and scrip code 532540 on the BSE.The announcement builds on an earlier disclosure made by TCS regarding the MHP acquisition. The latest filing provides the value, duration and operational scope of the Porsche agreement.TCS said details of the transaction are also available on its website. The disclosure was signed by company secretary Yashaswin Sheth.Disclaimer: This report is based on information disclosed by Tata Consultancy Services in its regulatory filing to the stock exchanges.

Mumbai: Tata Consultancy Services (TCS) has secured a major five-year strategic technology agreement worth €1.25 billion from Porsche AG alongside MHP Management- und IT-Beratung GmbH.The agreement follows the acquisition of MHP and will become effective from the closing date of that transaction, TCS said in a regulatory filing.AI Across Porsche OperationsThe partnership is designed to industrialise artificial intelligence across Porsche’s engineering, manufacturing and operational functions. It will also cover customer experience and the automaker’s enterprise transformation programme.Under the agreement, TCS and MHP will deliver next-generation automotive technology services and software-defined mobility platforms. The companies aim to establish a long-term technology partnership supporting Porsche’s digital transformation priorities.The deal places artificial intelligence at the centre of Porsche’s technology strategy. It is expected to support the adoption of AI across business functions instead of limiting its use to projects or departments.Five-Year Strategic EngagementThe five-year duration provides a long execution window for the technology companies to develop, deploy and scale digital services across Porsche’s organisation.TCS did not disclose the division of work or revenue between itself and MHP. The filing also did not provide annual contract values, project milestones or the expected financial contribution from the engagement. Tata Group Stocks Fall After N Chandrasekaran Resigns As Tata Sons Chairman; TCS Leads DeclineThe agreement’s implementation remains linked to the closing of the MHP acquisition. TCS did not specify the completion date for that transaction in this disclosure.Stock Exchanges InformedTCS informed the BSE and the National Stock Exchange about the strategic agreement under Regulation 30 of the Securities and Exchange Board of India’s listing regulations.The company trades under the symbol TCS on the NSE and scrip code 532540 on the BSE. TCS Rules Out Data Breach, Says Allegedly Exposed Employee Information Is Over 4 Years OldThe announcement builds on an earlier disclosure made by TCS regarding the MHP acquisition. The latest filing provides the value, duration and operational scope of the Porsche agreement.TCS said details of the transaction are also available on its website. The disclosure was signed by company secretary Yashaswin Sheth.Disclaimer: This report is based on information disclosed by Tata Consultancy Services in its regulatory filing to the stock exchanges.