JAKARTA – Porsche has agreed to sell its entire MHP Group, its management consulting and information technology company, to India’s Tata Consultancy Services or TCS. The move comes as the German sports car maker strengthens its focus on its core automotive business.<\/p>\n
Anadolu Agency, quoted on Monday, August 24, reported that Porsche and TCS had signed an agreement to acquire the entire MHP Group. The value of the transaction was not disclosed.<\/p>\n
The acquisition is still awaiting regulatory and competition authority approval. The transaction is expected to be completed in the coming months.<\/p>\n
Porsche calls the MHP sale part of its Sportwagenschmiede 35 strategy aimed at focusing the company on its core business.<\/p>\n
“Porsche is taking another important step in its strategy to focus decisively on its core business through the transfer of MHP to Tata Consultancy Services,” said Porsche Chief Executive Officer Michael Leiters.<\/p>\n
In conjunction with the sale, Porsche, TCS, and MHP plan to build a long-term strategic partnership in the field of digital solutions and artificial intelligence or AI.<\/p>\n
The cooperation will be directed to accelerate the development, expansion of use, and integration of AI applications in a number of key areas. Porsche also wants to accelerate digital transformation across its entire business processes.<\/p>\n
MHP will retain its company name and identity and operate as an independent consultancy firm under TCS, which is part of the Tata Group.<\/p>\n
Porsche and MHP will also maintain their long-standing cooperation. MHP remains an important partner in Porsche’s digitalization and transformation projects, especially those related to AI.<\/p>\n
MHP is headquartered in Ludwigsburg, near Stuttgart, and employs more than 4,500 people worldwide.<\/p>\n
The company has been providing strategic consulting and information technology transformation services for more than 30 years, primarily to clients in the automotive and manufacturing industries.<\/p>\n
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